WK Kellogg soars after Ferrero nears $3 billion acquisition deal
WK Kellogg stock surged 55% after reports said Ferrero is close to a $3 billion acquisition deal, potentially finalising this week. The cereal maker, valued at $1.5 billion with $500 million debt, could join Ferrero's growing US portfolio. Retail sentiment hit 'extremely bullish', sparking hopes of more M&A activity in struggling food brands.