According to the manufacturer “Froot loops” World Championship Kellogg, the Italian confectionery manufacturer Ferrero Rocher is confronted with the manufacturer “Froot loops” WK Kellogg for around $ 2.56 billion).
Ferrero could complete the company this week, the newspaper reported Wednesday, referring to the case. Shares of WK Kellogg rose by around 51 percent. The companies did not immediately respond to Reuters questions after a statement.
WK Kellogg was founded after Kellogg split off his North -American grain company about two years ago into a separate listed company. The remaining global snack company is called Kellanova.
In June a $ 36 billion was taken over by Kellanova by the Snickers owner Mars received the approval of the American cartel authorities. WK Kellogg and Kellanova have to deal with a weak demand in a difficult market environment.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
