Nutella maker Ferrero plans to buy century-old cereal maker WK Kellogg for $3.1 billion
Associated PressJUN 29
Kellogg Shares Soar After Reports of Ferrero Takeover
Above: Kellogg's cereals at a grocery store in Queens, New York, in 2024. Image copyright: Lindsey Nicholson/UCG/Universal Images Group/Getty images
The Spin
Narrative A
This is a bold move from Ferrero that will strengthen its foothold in U.S. markets while the firm continues with its aims of expanding globally. This acquisition, if it proceeds, makes strategic sense for the company.