Kellogg shares surged after Ferrero announced plans to acquire the company for $23 per share. The deal, coming just months after rumors of a potential buyout, highlights the value of overlooked consumer staples. Ferrero, known for brands like Nutella and Kinder, aims to expand its US presence with Kellogg’s cereal brands like Frosted Flakes and Special K. Current Kellogg shareholders may not see further gains, with the share price near the acquisition price. This acquisition underscores the importance of considering stable food stocks for investment opportunities.

Read more at Yahoo Finance: Why WK Kellogg Shares Skyrocketed This Week