New Yorks CNN —
Shares of WK Kellogg, the cereal maker behind Froot Loops and Frosted Flakes, skyrocketed as high as 50% after the Wall Street Journal reported Wednesday that Ferrero was nearing acquiring the company for $3 billion.
The Wall Street Journal reported the deal, in which the Nutella and Ferrero Rocher maker would acquire WK Kellogg for $3 billion, could be finalized as early as this week.
Ferrero, which began as a family business in Italy in the 1940s, has been foraying across the pond into North America. In 2022, it acquired
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