The most important meal of the day, not breakfast, is mergers and acquisitions. Ferrero, which makes Nutella, just bought Kellogg’s cereal empire for $3.1 billion, 40% more than its recent share price.
Your morning Frosted Flakes, Rice Krispies, and Froot Loops are now under the same roof as Ferrero Rocher and Kinder chocolate. In a time when Americans are increasingly skipping sugary cereals, Ferrero is betting big on Kellogg’s turnaround. Is this a smart move or simply sugarcoating deeper troubles?
