Ferrero Set to Acquire WK Kellogg
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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.
The transaction marks the end of Battle Creek's run as a quintessential company town in Michigan, where the name "Kellogg" graces almost everything.
2don MSN
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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