<ul data-eligibleForWebStory="false"><li>Ferrero International SA has agreed to acquire WK Kellogg Co. for $3.1 billion, aiming to expand its presence in the US market.</li><li>The deal includes Ferrero paying $23 per Kellogg share in cash, representing a 31% premium from Kellogg's closing price on Wednesday.</li><li>Ferrero's acquisition of Kellogg will enable the company to diversify its portfolio and grow key Kellogg brands in the US market.</li><li>The transaction is expected to close in the second half of 2025, and it has been unanimously approved by Kellogg's board.</li></ul>

Italy’s Ferrero agrees to buy Kellogg in $3.1bn deal

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