Snickers maker Mars to acquire Kellanova for nearly US$30bil, source says

Cans of Pringles are seen on display in New York April 5, 2011. REUTERS/Shannon Stapleton

FAMILY-owned candy giant Mars, whose brands include M&M's and Snickers, is nearing a deal to acquire Kellanova, maker of snacks such as Cheez-It and Pringles, for nearly $30 billion, a person familiar with the matter told Reuters on Tuesday.

Mars will pay $83.50 per share in an all-cash deal for Kellanova that is set to be announced on Wednesday, the source said, requesting anonymity since discussions were confidential.