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Kellogg Shares Surge on WSJ Report of Ferrero $3 Billion Takeover Bid
Shares of WK Kellogg soared following a report by The Wall Street Journal that Italian candy maker Ferrero is nearing a $3 billion deal to buy the cereal conglomerate. WK Kellogg stock was up 52%, at $26.53, after hours. Shares closed the market down slightly year-to-date.
The $3.1 billion acquisition would combine Ferrero, which makes Tic Tacs and Nutella, with the producer of Frosted Flakes and ...
Ferrero, the Italian chocolatier behind Kinder Eggs, ... Lindt’s $1.6bn (£870m) takeover of Russell Stover chocolate in the US last year should have given the market a hint.
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