Nutella maker Ferrero taking cereal company Kellogg private in deal valued at about $3.1 billion

Ferrero, the company behind Nutella and Butterfinger, is set to acquire WK Kellogg, the cereal company, in a deal worth around USD 3.1 billion. Ferrero Group will pay USD 23 per share for Kellogg, encompassing the production, promotion, and distribution of breakfast cereals like Fruit Loops and Rice Krispies across the US, Canada, and the Caribbean.