WK Kellogg Co. jumped nearly 30% on July 10 following the announcement from Italian food leader Ferrero regarding a $3.1 billion acquisition, inclusive of debt.

The Kellogg cereal business, an iconic Michigan brand, is being sold to Ferrero, an Italian chocolate and sweets company.

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Shares of WK Kellogg ( KLG 30.57%) charged sharply higher Thursday, surging as much as 33.7%. As of 10:40 a.m. ET, the stock was still up 33.6%. The catalyst that sent the iconic cereal maker soaring was news that the company would be taken private.

WK Kellogg Co’s headquarters is in Battle Creek. After the transaction closes, Battle Creek will remain a core location for the company and will be Ferrero’s headquarters for North America cereal, a news release from WK Kellogg states.

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Keith Kellogg, US President Donald Trump's special envoy for Ukraine, has spoken on behalf of the US administration about the expectations for Ukraine's post-war recovery. Source: European Pravda, reporting from the Ukraine Recovery Conference (URC-2025) in Rome Details: Kellogg emphasised that the US supports large-scale investment in Ukraine after achieving a stable truce but stressed that recovery is not solely about financial issues.