Mars, Incorporated’s $26 Billion Notes Offering
March 26, 2025
Cravath represented the initial purchasers in connection with the $26 billion 144A/Reg. S notes offering of Mars, Incorporated, as part of the financing transactions undertaken in connection with the pending $35.9 billion acquisition of Kellanova. Mars, Incorporated is one of the world’s largest privately‑held, family‑owned businesses with a history of successfully building and growing market-leading consumer brands for over 100 years. The transaction closed on March 12, 2025.
The Cravath team included partners William V. Fogg and Douglas Dolan and associates Kathryn Kennedy Bleday, Mitchell S. Siegel and Benjamin Meyer on capital markets matters; associate Carolyn Liziewski on tax matters; and associate Star S. Gulant on environmental matters.
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J.D., 2014, New York University School of Lawmagna cum laude
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B.A., 2011, Cornell University
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J.D., 1991, Columbia Law SchoolHarlan Fiske Stone Scholar
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A.B., 1988, Brown Universitymagna cum laude
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