The Italian giant in agri-food Ferrero, known for global brands like Kinder and Nutella, acquired the American group WK Kellogg, also known as Kellogg's.

The transaction, valued at 3.1 billion dollars (including debts), was jointly announced by both companies.

WK Kellogg is a specialist in breakfast cereals, with iconic products like Corn Flakes and Rice Krispies.

According to the portal Banking and Business, the agreement stipulated a payment of 23 dollars per share of WK Kellogg. This represented a premium of 31% over the closing price on Wall Street. Following the news, WK Kellogg's stock soared nearly 50% in electronic trading.

The move consolidated Ferrero's expansion strategy in the United States. The Italian group had made significant previous moves, such as the acquisition of Nestlé's U.S. candy business in 2018 for 2.8 billion dollars #Write2Earn #BinanceTurns8 #BINANCE8YA