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The Independent UK
The Independent UK
National
Michelle Chapman

Kellogg shares soar as Nutella maker Ferrero takes cereal giant private in huge deal

Kellogg Ferrero WK Kellogg
Staff at a chocolate factory which supplies Ferrero Rocher have rejected a below-inflation pay rise - (Neilson Barnard/Getty Images for NYCWFF)

Ferrero, known for brands like Nutella, Butterfinger and Kinder, is taking cereal company WK Kellogg private in a deal valued at approximately $3.1 billion.

The Italian confectioner is buying the century-old US cereal company WK Kellogg in a deal valued at approximately 3.1 billion dollars (£2.3 billion).

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