WK Kellogg Stock Skyrockets on $3 Billion Ferrero Acquisition

Italian confectionery giant Ferrero is reportedly close to acquiring WK Kellogg Co in a deal valued at $3 billion, as per The Wall Street Journal. The agreement could be finalized this week, expanding Ferrero’s presence in the U.S. breakfast foods market. WK Kellogg, known for cereals like Froot Loops and Frosted Flakes, became independent in 2023 after separating from Kellogg Co. KLG’s stock surged in response to the news, closing regular trading at $17.50, up 3.49%, and gaining an additional 57.14% in after-hours trading.

Read more at Nasdaq: WK Kellogg Shares Soar Amid Report Of $3 Billion Ferrero Deal