Summary by Moomoo AI
At a special meeting on November 1, 2024, Kellanova shareholders overwhelmingly approved the merger agreement with Acquiror 10VB8, LLC, a Mars-backed entity. The merger proposal received strong support with 265.5 million shares voting in favor, representing approximately 77.5% of the total outstanding shares. Upon completion, Kellanova will become a wholly-owned subsidiary of Acquiror.While shareholders approved the merger and adjournment proposals, they rejected the non-binding advisory proposal on executive compensation related to the merger, with 154.6 million shares voting against versus 111.7 million in favor. The adjournment proposal, though approved, was not needed as the primary merger vote succeeded.The merger remains subject to regulatory approvals and other customary closing conditions. The agreement, originally announced on August 13, 2024, will result in Merger Sub 10VB8, LLC merging with Kellanova, with Kellanova surviving as the wholly-owned subsidiary.
