00:00Italian confectionary giant Ferrero will buy North American cereal maker W.K. Kellogg Company for $23 per share in cash, representing a premium of more than 30% and an enterprise value of about $3.1 billion.
00:16The deal includes manufacturing, marketing and distribution across the U.S., Canada and the Caribbean, with corporate headquarters remaining in Battle Creek, Michigan. Closing is expected in the second half of 2025.
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