At least six M&A stalwart firms in Big Law guided Mars’ $35.9 billion buy of snack maker Kellanova, announced Wednesday. Those on the deal, one of the largest of 2024, include Skadden, Arps, Slate, Meagher & Flom; Kirkland & Ellis; Simpson Thacher & Bartlett; Cravath Swaine & Moore; Cleary Gottlieb Steen & Hamilton; and Sullivan & Cromwell.
The deal is one of the latest to highlight how 2024 M&A value is on the rise from last year, supporting Big Law corporate practices. According to LSEG data, mega deals over $10 billion were up 70% in the first half of 2024 compared with 2023 levels, helping to fuel an overall uptick in M&A value this year, despite a lower number of deals overall.
