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Italy's Ferrero to buy WK Kellogg in $3.1 billion deal
The Ferrero Group said Thursday it will buy WK Kellogg Co. in a deal valued $3.1 billion, expanding the Italian food giant's global reach.Kellogg, which was founded in Battle Creek, Michigan, in 1906,
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Nutella maker to buy Kellogg for $3.1B, hints at future in Battle Creek
The brand behind famous cereal brands like Frosted Flakes, Froot Loops and Rice Krispies is being sold in a $3.1 billion deal, the companies confirmed in a news release on Thursday, July 10. The Ferrero Group has agreed to acquire WK Kellogg Co for $23 per share in cash,
Kellogg shares soar on reports of Ferrero takeover talks
WK Kellogg and Ferrero did not immediately respond to BBC requests for comment. WK Kellogg's shares surged by more than 56% in extended trading in New York on Wednesday after the reports. The deal could be worth double the firm's $1.5bn stock market value when ordinary trading ended.
Nutella with your Corn Flakes? This cereal giant’s stock rallies on word of a $3 billion deal.
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.
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