Nutella Maker Ferrero Taking Cereal Company Kellogg Private
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The Ferrero Group has agreed to acquire WK Kellogg Co for $23 per share in cash, for a total enterprise value of $3.1 billion, WK Kellogg said in a news release. RELATED: Kellogg’s reportedly set to sell 119-year-old cereal company in $3B deal
Shares of WK Kellogg, the cereal maker behind Fruit Loops and Frosted Flakes, skyrocketed 50% after the Wall Street Journal reported Wednesday that Ferrero was nearing acquiring the company for $3 ...