Why Shares of WK Kellogg Skyrocketed Today
Shares of leading cereal marker WK Kellogg (NYSE: KLG) were up 11% as of 3:30 p.m. ET Friday, according to data provided by S&P Global Market Intelligence.The surprising share price spike stems from rumors that Kellogg could potentially be acquired by the privately owned snacking behemoth Ferrero Group from Italy.While it is always challenging to discern the legitimacy of merger and acquisition (M&A) speculation, these two food companies have a history of making deals with each other.Continue reading
Shares of leading cereal marker WK Kellogg (NYSE: KLG) were up 11% as of 3:30 p.m. ET Friday, according to data provided by S&P Global Market Intelligence.
The surprising share price spike stems from rumors that Kellogg could potentially be acquired by the privately owned snacking behemoth Ferrero Group from Italy.
While it is always challenging to discern the legitimacy of merger and acquisition (M&A) speculation, these two food companies have a history of making deals with each other.
