Kellogg cereal company sold for over $3bn to Ferrero

Kellog’s has been acquired in major deal

Ferrero International has agreed to acquire WK Kellogg Co. for an enterprise value of $3.1bn, (€2.6bn) pushing the Italian family-­owned candy business ­further into the lucrative US market.

Ferrero will pay $23 per ­Kellogg share in cash, according to a statement yesterday, representing a premium of about 31pc from ­Kellogg’s closing price on Wednesday.

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