Candy giant Mars’ $35.9 billion offer for  Pop-Tarts and Pringles maker Kellanova (K) is a fresh burst of energy for the 澳洲幸运5官方开奖结果体彩网:mergers and acquisitions market.

The Mars transaction is the largest M&A deal this year, according to Dealogic, ahead of Capital One Financial’s (COF) $35.3 billion offer to acquire Discover Financial Services (DFS), which was announced 澳洲幸运5官方开奖结果体彩网:in February. 

It’s also the largest transaction in the food space since 澳洲幸运5官方开奖结果体彩网:Heinz acquired Kraft Foods in 2015 — and the third-largest transaction in the food and beverage segment excluding 澳洲幸运5官方开奖结果体彩网:spin-offs like Altria's 澳洲幸运5官方开奖结果体彩网:separation of Kraft Foods in 2007. Here are the top five, dominated by deals for Kraftಞ.

The deal comes as M&A plunged in 2023 to the lowest levels in a decade. This year, global M&A by dollar value is already above last year's levels, though still below 2022. Elevated interest rates have dampened deal activity, while economic uncertainty has also put off acquirers.

1. Anheuser-Busch InBev Buys SABMiller

In 2015, Anheuser-Busch InBev (BUD) announced its purchase of SABMiller for $134.2 billion, a deal that made the mega brewer even bigger. It 澳洲幸运5官方开奖结果体彩网:combined SABMiller’s Castle Lager with AB InBev’s B💯udweiser, Stella Artois, and Corona brand🎐s.

2. Heinz Acquires Kraft Foods

2015 was a blockbuster year for food and beverage transactions. That was when Kraft Heinz Company (KHC), the 澳洲幸运5官方开奖结果体彩网:fifth-largest food and beverage company in the world, was formed, with HJ Heinz buying Kraftꦫ Foods.

3. Inbev Buys Anheuser-Busch

It may have been the year of the global financial crisis, but 2008 was also the year the world's biggest beer maker, Anheuser-Busch InBev (BUD), was created. InBev, which made Stella Artois and Beck's, tha🐟t year acquired Anheuser-Busch, the maker of Budweiser, for $62.6 billion.

4. Mars Offers $36B for Kellanova

The transaction, combining two companies that dominate the 澳洲幸运5官方开奖结果体彩网:grocery aisle, if approved, will see closely held confectionary giant Mars🍸 expand into the snacks space.

5. France's Vivendi Takes On Seagram

At the start of the 21st century, French water utility Vivendi SA took a huge step in expanding in entertainment and liquor when it acquired conglomerate Seagram Co., maker of Absolut vodka. The deal, completed in 2000, was valued at $31 billion.