Mars reportedly nabs Kellanova for $30B
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 14 August 2024
⏱️ 6 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Wednesday, August 14th. I'm Julie Morgan. We have an update on the Mars-Cologna deal. |
| 0:15.1 | Elliot is looking to replace more than half of Southwest Airlines Board and |
| 0:20.0 | Grell is focusing its resources. |
| 0:24.0 | Candy Giant Mars will acquire Kalinova in a deal valued close to $30 billion. |
| 0:29.6 | The acquisition price is reported to be $83.50 per share, and the all-cash deal is expected to be announced today. |
| 0:37.0 | Mars will also take on $6 billion in net debt. |
| 0:42.0 | Kelanova was spun off from Kellogg last year. |
| 0:44.8 | The acquisition will allow Mars to leverage |
| 0:47.1 | Kalanova's distribution networks and consumer base. |
| 0:51.0 | Reuters reported citing a person familiar with the matter that this acquisition |
| 0:55.5 | will be Mars largest deal yet, dwarfing its $23 billion buyout of Wrigley in 2008. |
| 1:02.4 | Kalinova's stock price has gained about 32% during the last one month. |
| 1:07.2 | Seeking Alpha's Quant rating system gives Kellanova a hold rating with the highest |
| 1:12.4 | factor grades given to profitability. |
| 1:15.0 | Activist Elliot Investment Management is preparing to start a proxy fight at Southwest Airlines. |
| 1:22.0 | According to a statement from Elliot on Tuesday, |
| 1:24.6 | the Prominent Activist Fund plans to nominate |
| 1:27.2 | 10 director candidates for the Airlines 15-person board. |
| 1:31.6 | Elliot is expected to call for a special meeting to allow holders to vote on the nominees. |
| 1:36.9 | The nominees include former airline executives and six candidates with expertise and technology, hospitality, consumer-focused businesses, |
| 1:45.6 | labor relations, and regulatory oversight. |
... |
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