EU to Launch Full Probe Into Mars’ $36 Billion Bid for Kellanova

European Union competition authorities plan to open an in-depth investigation into Mars Inc.’s proposed $36 billion takeover of snack maker Kellanova, according to people familiar with the matter. Regulators are worried the deal would give the privately held confectionery and pet-food giant excessive market power in specific product categories in several EU member states. Sources said Mars is unlikely to offer concessionary remedies at this stage, prompting the move to a full Phase II probe, which can run for up to four months and postpone the transaction’s completion.