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Tag: Cereal Market

Ferrero to Acquire WK Kellogg in $3.1 Billion Deal, Bolstering North American Presence

Ferrero to Acquire WK Kellogg in $3.1 Billion Deal, Bolstering North American Presence

Ferrero to Acquire WK Kellogg in $3.1 Billion Deal, Bolstering North American Presence Italian confectionery powerhouse Ferrero Group, globally recognized for brands like Nutella and Kinder, is set to acquire WK Kellogg Co. for approximately $3.1 billion. This significant transaction, valued at $23 per share, marks a strategic expansion for Ferrero into the North American breakfast cereal market, aiming to broaden its product portfolio beyond snacks and sweets. The acquisition includes WK Kellogg Co.’s entire breakfast cereal business, encompassing iconic…

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WK Kellogg Shares Skyrocket Over 50% Amid Reports of Imminent $3 Billion Ferrero Acquisition

WK Kellogg Shares Skyrocket Over 50% Amid Reports of Imminent $3 Billion Ferrero Acquisition

WK Kellogg Shares Skyrocket Over 50% Amid Reports of Imminent $3 Billion Ferrero Acquisition Shares of cereal maker WK Kellogg experienced a dramatic surge of over 50% on Wednesday, following reports that Italian confectionery giant Ferrero is nearing a roughly $3 billion deal to acquire the company. The Wall Street Journal, citing sources familiar with the matter, reported that Ferrero, renowned for its hazelnut chocolates, could finalize the acquisition of the legacy breakfast foods business as early as this week….

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