American candy and snack manufacturer Mars will receive approval from the European Union for the acquisition of Kellanova (owner of the Pringles brand) for $36 billion.
Reuters reports, citing informed sources.
This is one of the largest mergers in the industry, bringing together popular brands such as M&Ms, Snickers, Whiskas, as well as Pringles, Pop-Tarts, and Kellogg's under one brand.
In the U.S., the deal has already received approval without any conditions.
According to the agency, the European Commission, which previously expressed concerns about potential price increases and Mars' strengthened bargaining position with retailers, now sees insufficient legal grounds to demand concessions from the company.
An official decision from the EU is expected by December 19.
According to NielsenIQ analysts, after the merger, the combined company will control about 12% of the candy and snack market in the U.S.
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