


Chocolate maker Ferrero has agreed to buy cereal giant WK Kellogg in a deal valued at $3.1 billion, the companies announced Thursday.
Shares of WK Kellogg soared 30% in premarket trading on the announcement. Excluding Thursday's stock move, shares have fallen more than 2% this year, dragging the company's market value down to about $1.5 billion. The $23 per-share purchase price represents a 31% premium above the stock's closing price on Wednesday.
The deal is expected to close in the latter half of the year, pending approval from shareholders and regulators.
WK Kellogg, which makes U.S. childhood staples such as Froot Loops and Frosted Flakes, spun off into a standalone company in 2023 as Kellogg sought to focus more on its growing snack business and divest from the sleepy cereal category. Kellogg renamed itself to Kellanova, which now houses snack brands such as Pringles and Cheez-It. M&M owner Mars agreed to buy Kellanova for $36 billion last year in a deal that has not yet closed...
is recalling about 850,000 stainless steel water bottles because the lid can "forcefully eject" and unexpectedly strike consumers — resulting in permanent vision loss for two people to date.
The recall covers Walmart's "Ozark Trail 64 oz Stainless Steel Insulated Water Bottles," which have been sold at the chain's stores across the country since 2017. According to a notice published by the U.S. Consumer Product Safety Commission on Thursday, these products pose "serious impact and laceration hazards."
That's because when a consumer attempts to open the bottles "after food, carbonated beverages or perishable beverages, such as juice or milk, are stored inside over time," the lid can eject forcefully, the CPSC notes...
Wow - we overreact so much in this nation.