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CNBC

WK Kellogg in the takeover crosshairs — Ferrero reportedly eyes a bid

CNBC · New
CNBC
CNBC
New

CNBC’s “Squawk Box Europe” anchors discuss Nutella-maker Ferrero's reported takeover bid for cereal maker WK Kellogg.

BreakdownGenerated by LeadStory AI
  • Ferrero is reportedly close to a $3 billion deal to acquire WK Kellogg. 5s
  • WK Kellogg became a standalone company after a spin-off in 2023. 25s
  • Ferrero has expanded in the US before, acquiring Nestlé's US chocolate business in 2018. 47s
  • Branded cereals like Kellogg have faced challenges as consumers switch to cheaper private labels. 3m 18s
  • The reported deal has caused WK Kellogg shares to surge, surprising the market. 2m 51s
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