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Italy's Ferrero to buy Kellogg for $3.1 billion, but regional HQ to stay in Battle Creek
The transaction marks the end of Battle Creek's run as a quintessential company town in Michigan, where the name "Kellogg" graces almost everything.
WK Kellogg Stock Pops as Ferrero Buys Cereal Giant for $3.1B
Shares of WK Kellogg ( KLG) surged 30% Thursday as the maker of Froot Loops and Frosted Flakes announced it had reached a deal to be acquired by Italian sweets company The Ferrero Group for $23 per share in cash, or about $3.1 billion.
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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