Cereal giant WK Kellogg's shares surge 30% on $3B deal to be acquired by Ferrero Rocher owner
1. WK Kellogg is acquired by Ferrero for $3.1 billion amid weak demand. 2. Ferrero offers $23 per share, a 31% premium for shareholders. 3. KLG shares rose 30% to $22.84 following the acquisition news. 4. The deal is expected to finalize by the second half of 2025. 5. Consumer spending remains cautious due to high inflation and price increases.