Kellanova gains amid reports European Union may clear Mars $36B deal

[WK Kellogg Co and Kellanova Headquarters]
wellesenterprises

Kellanova (NYSE:K [https://seekingalpha.com/symbol/K]) rose 5% in premarket trading after reports that the European Union may be more likely to approve its planned $36 billion sale to Mars.

The European Commission appears to be leaning toward approving the combination without any remedies, according to traders who cited a Capitol Forum report from Sunday. While EC Competition Commissioner Teresa Ribera hasn't made a final decision, some have recommended unconditional clearance for the deal.

The EC team, reviewing the combination, asked Ribera to begin to put the wheels in motion to approve the deal without conditions, according to traders, who cited a Dealreporter item that was also circulating.

The latest updates come after EC restarted its probe into Mars' purchase of Kellanova (NYSE:K [https://seekingalpha.com/symbol/K]) after it was paused in late July. The EC in June opened an in-depth investigation [https://seekingalpha.com/news/4462378-mars-deal-to-acquire-kellanova-hits-a-major-roadblock-in-europe#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews] into the deal.

The U.S. Federal Trade Commission approved [https://seekingalpha.com/news/4462642-mars-deal-for-kellanova-lands-ftc-approval#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews] the Kellanova (NYSE:K [https://seekingalpha.com/symbol/K#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews]) deal in June.

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