Summer Deals Heat Up as 7-Eleven, Pop Tarts Drive M&A Wave (1)

A pair of megadeals in the consumer industry is keeping bankers busy during the normally quiet summer months, showing a rising confidence in the corporate world that’s helping extend a dealmaking revival.

7-Eleven parent Seven & i Holdings Co. soared Monday after saying it’s received a takeover proposal from the owner of Circle K, taking the Japanese convenience store operator’s market value to around $38.5 billion. The announcement came the week after candy maker Mars Inc. agreed to buy Kellanova, the maker of Pringles chips and Pop Tart pastries, for nearly $36 billion. Both targets are attracting interest following ...