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