Ferrero near deal to acquire WK Kellogg for $3B, WSJ reports

Italy’s Ferrero is nearing a roughly $3B deal to acquire WK Kellogg (KLG), Lauren Thomas and Ben Dummett of Wall Street Journal report, citing people familiar with the matter. A deal could be finalized as soon as this week, sources told the Journal. Kellogg has a market value today around $1.5B with more than $500M in debt, the paper points out. Shares of WK Kellogg are up 50%, or $8.67, to $26.17 following the report.