Nutella maker Ferrero plans to buy WK Kellogg for $3 billion
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Italian chocolate giant Ferrero is taking over one of America's oldest breakfast cereal companies, buying the maker of Kellogg's Corn Flakes for $3.1bn (£2.3bn). Ferrero said it planned to invest and expand WK Kellogg's "iconic" brands, which include Froot Loops and Rice Krispies.
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The Italian maker of Ferrero Rocher and Nutella has set its sights on WK Kellogg as the U.S. cereal maker struggles to get traction.