Mars is reportedly acquiring Kellanova for nearly $36 billion deal.
As per media reports, Mars will pay $83.50 per share for Kellanova.
Earlier reports said Mars was considering a deal for the maker of Morningstar Farms and Eggo.
The combined company aims to hold prices steady, Mars CEO Poul Weihrauch was quoted in an interview with a news agency.
Other reports said this was an all-cash transaction.
The two companies aim to meet the demand in markets like Africa and Latin America.
