BRUSSELS, Oct 7 (Reuters) - Candy and snacks giant Mars'
$36 billion bid to acquire Pringles maker Kellanova ( K ) is set
to clear a major hurdle by winning unconditional European Union
antitrust approval, three people with direct knowledge of the
matter said.
The deal, among the biggest in the sector, would bring under
one roof brands ranging from M&Ms, Snickers and Whiskas cat food
to Pringles crisps, Pop-Tarts and Kellogg's ( K ) cereals. It has
already secured a green light without any conditions from U.S.
authorities.
The European Commission, which warned in June that the deal
could lead to price hikes and may boost Mars' negotiating power
with retailers, has subsequently found insufficient legal
grounds to demand concessions, the sources said.
The Commission, the EU's competition enforcer, declined to
comment, as did Mars and Kellanova ( K ). An EU decision on the deal
is due by December 19.
A combined Mars and Kellanova ( K ) would account for roughly 12%
of the U.S. snacking and candy industry, according to market
share data from NielsenIQ.