Mars Receives Unconditional EC Clearance To Acquire Kellanova for $36 Billion

Niels Baeten Frederic Depoortere Andrew L. Foster Clifford H. Aronson Michael J. Sheerin

Skadden served as lead counsel to Mars, Incorporated in securing unconditional clearance from the European Commission in the Phase II review of its $36 billion acquisition of Kellanova.

Our team acted as global legal counsel on the transaction, including on regulatory strategy and filings around the world. The transaction was announced on August 14, 2024, received European Commission approval on December 8, 2025, and closed today.

Our EU antitrust/competition team included partners Niels Baeten, Frederic Depoortere and Andrew Foster. Our U.S. antitrust/competition team was led by partners Clifford Aronson and Michael Sheerin.

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