Shares of WK Kellogg spiked on a report that Ferrero is nearing an agreement to buy the breakfast food company for about $3 billion. A deal could close as soon as this week, according to The Wall Street Journal. WK Kellogg, which makes cereals such as Froot Loops and Frosted Flakes, spun off into a standalone company in 2023. Boxes of various Kellogg’s cereals are displayed on shelves at a Walmart Supercenter on May 6, 2025 in Austin, Texas. Brandon Bell | Getty Images
Shares of WK Kellogg soared more than 50% on Wednesday following a report that chocolate maker Ferrero is close to a roughly $3 billion deal to buy the cereal company.
The Italian company known for its circular hazelnut chocolates could finalize an acquisition of the legacy breakfast foods business as soon as