Ferrero Rocher owner to buy cereal giant WK Kellogg in $3.1bn deal
1. WK Kellogg is being acquired by Ferrero Rocher for $3.1 billion. 2. The acquisition price offers a 31% premium to WK Kellogg's recent stock price. 3. Ferrero aims to consolidate legacy brands like Nutella and Frosted Flakes. 4. Weak consumer demand is influencing the packaged food sector's dynamics. 5. Kellanova, WK Kellogg's original parent, is also involved in a significant deal.