USA: Ferrero Confirms Purchase of WK Kellogg for US$ 3.1 Billion

The Italian confectionery manufacturer Ferrero, responsible for Ferrero Rocher chocolate and Nutella cream, stated this Thursday (10) that it has signed a definitive agreement to acquire WK Kellogg for US$ 23.00 per share in cash, or US$ 3.1 billion. According to the statement, the deal includes the manufacturing, marketing, and distribution of Kellogg's portfolio in the United States, Canada, and the Caribbean. If successfully concluded, WK Kellogg's common shares will cease to be traded on the New York Stock Exchange and the company will become a wholly-owned subsidiary of Ferrero. After the announcement, around 10:30 am (Brasília time), WK's shares were up 30% in NY. The transaction is subject to approval by WK Kellogg's shareholders, as well as regulatory approvals and other customary closing conditions, with an expected completion in the second half of 2025. The agreement was unanimously approved by WK Kellogg's Board of Directors, according to the note. The WK Kellogg ...