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Italian confectioner Ferrero, known for brands like Nutella and Kinder, is buying the century-old U.S. cereal company WK Kellogg in a deal valued at approximately $3.1 billion.

Ferrero Buy WK Kellogg: Italian confectioner Ferrero, famed for Nutella, is set to acquire WK Kellogg, the century-old U.S. cereal giant, for $3.1 billion. The deal encompasses iconic brands like ...

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Italian chocolate giant Ferrero is taking over one of America's oldest breakfast cereal companies, buying the maker of Kellogg's Corn Flakes for $3.1bn (£2.3bn).