By Matthew Bemer
Ares Management is headed to the S&P 500 Index.
The investment firm will replace Kellanova, which owns Pringles, Cheez-It, Pop-Tarts, and other snack brands. Private company Mars Inc. has agreed to acquire the company, and the deal is expected to close soon.
Ares, with a market capitalization of $54 billion, is one of the largest companies by market capitalization not currently in the S&P 500 index. It was one of the top candidates for inclusion in the S&P 500 when the index made its rebalancing announcement on Friday. Carvana, CRH, and Comfort Systems USA got the go-ahead, while Ares was left out.
Shares of Ares are up 7.5% in the after-hours session after the announcement.
The change will take place ahead of the open on Dec. 11.
Write to Matthew Bemer at matt.bemer@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
December 08, 2025 17:51 ET (22:51 GMT)
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