Ferrero nears about $3 billion deal for WK Kellogg, WSJ reports
Shares of WK Kellogg, the company behind Froot Loops and Frosted Flakes, surged about 51% after the bell.
Ferrero could finalize the deal as soon as this week, the report, opens new tab said.
The companies did not immediately respond to Reuters' requests for comment.
WK Kellogg was formed after Kellogg spun off its North American cereal business into a separate publicly traded company about two years ago. The remaining global snacking business is called Kellanova (K.N), opens new tab.
In June, Snickers owner Mars' $36 billion takeover deal for Kellanova received the U.S. antitrust approval.
Both WK Kellogg and Kellanova have been grappling with tepid demand amid challenging market conditions.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Geeky Gadgets
33 minutes ago
- Geeky Gadgets
Kia EV5: The Electric SUV Built for Your Family Adventures
The Kia EV5 is set to transform the concept of a family-friendly electric SUV. This mid-sized SUV has been carefully designed to accommodate the diverse needs of modern families and their active lifestyles. With its bold styling, advanced electric performance, and spacious interior, the EV5 seamlessly combines practicality and innovation. Built on Hyundai Motor Group's innovative Electric-Global Modular Platform (E-GMP), this vehicle offers a smooth transition to sustainable mobility without sacrificing comfort or utility. The EV5's global debut is scheduled for the second half of 2025, initially launching in Korea and Europe, followed by North American sales in early 2026. Although official pricing details are yet to be released, Kia aims to position the EV5 as an accessible option for families seeking a versatile and eco-friendly vehicle. Given its competitive features and advanced technology, the EV5 is poised to provide excellent value within its segment. Cutting-Edge Features and Spacious Interior The Kia EV5 features a rugged SUV design that exudes boldness and confidence. Its exterior is complemented by a spacious cabin equipped with state-of-the-art technology. The panoramic wide display seamlessly integrates a 12.3-inch cluster, a 12.3-inch infotainment screen, and a 5-inch climate control panel, creating a sleek and user-friendly cockpit. The interior also features second-row full flat folding seats, a sliding center console, and rear seat-back tables, ensuring maximum comfort and flexibility for families on the go. The EV5's interior is designed with the needs of modern families in mind. The spacious cabin provides ample room for passengers and cargo, making it ideal for long road trips or daily errands. The second-row seats can be easily folded flat, allowing for the accommodation of larger items such as sports equipment or camping gear. The sliding center console adds an extra layer of convenience, providing easy access to storage compartments and cup holders. Additionally, the rear seat-back tables offer a practical surface for children to engage in activities during long journeys. Impressive Electric Performance and Range The Kia EV5 is equipped with two battery options: a 60.3 kWh and an 81.4 kWh battery. These advanced batteries enable the EV5 to deliver an impressive WLTP-estimated range of up to 530 km. This extended range ensures that families can embark on longer adventures without the need for frequent charging stops. The EV5 also supports DC fast charging, allowing the battery to charge from 10% to 80% in just 30 minutes, providing a convenient and time-efficient charging solution for busy families. In addition to its impressive range, the EV5 offers a host of advanced features that enhance its electric performance. It comes equipped with all-wheel drive, providing improved traction and stability in various driving conditions. The regenerative braking system captures energy during deceleration, helping to extend the vehicle's range. Furthermore, Kia's i-Pedal 3.0 system enables smooth and intuitive one-pedal driving, allowing drivers to accelerate, decelerate, and stop using only the accelerator pedal. The EV5 also features Vehicle-to-Load (V2L) and Vehicle-to-Grid (V2G) capabilities, making it a versatile power source for outdoor adventures or emergency situations. With V2L, the EV5 can power external devices such as camping equipment or electronic devices, while V2G allows the vehicle to feed electricity back into the grid, potentially reducing energy costs for homeowners. Advanced Safety and Technology Features The Kia EV5 prioritizes the safety of its occupants, incorporating a range of advanced safety features. It comes equipped with Advanced Driver Assistance Systems (ADAS), which include technologies such as lane keeping assist, adaptive cruise control, and automatic emergency braking. These systems work in unison to provide a safer and more convenient driving experience. The EV5 also features seven airbags strategically placed throughout the cabin to ensure maximum protection for all passengers. With its robust safety features, the EV5 is expected to achieve a Euro NCAP 5-Star rating, further solidifying its commitment to passenger safety. In terms of technology, the EV5 offers a wealth of innovative features. It includes Digital Key 2.0, allowing owners to unlock and start the vehicle using their smartphone. Fingerprint recognition technology adds an extra layer of security and convenience, allowing personalized settings for each driver. The Kia AI Assistant provides voice-activated controls and intelligent recommendations, enhancing the overall user experience. Additionally, the Harman Kardon premium sound system delivers an immersive audio experience, making every journey more enjoyable for the entire family. Versatility for Every Adventure The Kia EV5 is designed to accommodate the diverse needs of modern families, whether it's a weekend getaway or a trip to the grocery store. With a towing capacity of up to 1,200 kg in Europe and Korea, or 1,800 lbs in North America, the EV5 can easily tow small trailers or recreational equipment. This versatility makes it an ideal choice for families who enjoy outdoor activities such as camping, boating, or cycling. The EV5's spacious interior and flexible seating configurations further enhance its versatility. The second-row seats can be easily folded down to create a flat cargo area, providing ample space for luggage, sports equipment, or even furniture. The sliding center console and rear seat-back tables offer additional storage options and convenience features, making the EV5 a true multi-purpose vehicle for modern families. Kia's Commitment to Electric Mobility The Kia EV5 is part of Kia's growing lineup of electric vehicles, showcasing the brand's commitment to sustainable mobility. For those interested in exploring Kia's other electric offerings, the EV lineup includes models like the compact EV3, the versatile EV4, the sporty EV6, and the spacious EV9. Each model is designed to cater to different lifestyles and needs, ensuring there's an electric vehicle for every driver. Kia's dedication to electric mobility extends beyond the EV5. The company has set ambitious targets to reduce its carbon footprint and contribute to a greener future. By investing in advanced battery technology, charging infrastructure, and sustainable manufacturing processes, Kia aims to become a leader in the electric vehicle market. With the EV5 and its other electric models, Kia is paving the way for a more sustainable and environmentally conscious automotive industry. The Kia EV5 represents a significant step forward in the realm of family-friendly electric SUVs. With its bold design, advanced electric performance, and spacious interior, the EV5 offers a compelling package for modern families seeking a sustainable and versatile vehicle. As Kia continues to expand its electric lineup and push the boundaries of innovation, the EV5 stands as a testament to the brand's commitment to delivering high-quality, eco-friendly vehicles that meet the evolving needs of today's drivers. Source Kia Filed Under: Auto News Latest Geeky Gadgets Deals Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn about our Disclosure Policy.
Telegraph
36 minutes ago
- Telegraph
British biofuel factory undercut by US rivals faces closure
Adam Traeger, Greenergy's chief executive, said that cost cuts at its biodiesel plant aimed at improving profitability had failed to offset the impact of the US imports, which are heavily subsidised by Washington and no longer subject to an import duty following Brexit. He said a slower ramp-up in the UK's biofuels blending mandates – currently set at 14pc – compared with other European countries was also impacting production and making it impossible to commit to the investment needed to make Immingham competitive. The fuel rules are meant to lessen the emissions of transport by blending propellant with less environmentally damaging substitutes. Mr Traeger said: 'It has been an incredibly difficult decision to enter consultation on the proposed closure of our Immingham site. However, in light of continuing market pressures, we unfortunately do not have enough certainty on the outlook.' It comes after Argent Energy last year announced the closure of its Motherwell biodiesel plant in Scotland, citing the saturation of the market with Chinese imports. Greenergy will seek talks with ministers on increasing the proportion of biofuel used in the petrol and diesel supplied on UK forecourts, something it said could help protect the sector while also reducing carbon emissions from HGVs. At the same time, it said it would begin consultation on the plant's closure with affected employees as soon as possible. The Immingham site began production in 2007 and accounts for more than a quarter of UK biodiesel production, processing waste oils sourced globally to make it ready for blending. Greenergy, which has been part of Singapore-based commodities trading giant Trafigura since August, also operates a biodiesel plant on Teesside, plus a third in the Netherlands. The firm said high energy and chemicals prices combined with a flood of hydro-treated vegetable oils imported from the US had put pressure on margins to an extent that some even turned negative in certain scenarios. While the Trade Remedies Authority has begun an investigation into the situation it may take a further 12 months to reach a decision. UK policy designed to encourage a switch to biofuels has meanwhile fallen behind measures imposed in EU countries such as Germany, the Netherlands and Ireland, where it is estimated that 2030 mandates will be more than double those of the UK.
Reuters
an hour ago
- Reuters
European shares rise on optimism over US-EU trade talks
July 10 (Reuters) - European shares rose on Thursday, buoyed by signs of progress on a potential trade deal between the United States and the European Union. The pan-European STOXX 600 index (.STOXX), opens new tab was up 0.6% at 553.14 points, as of 0850 GMT. The UK's FTSE 100 (.FTSE), opens new tab touched a fresh record high and was last up 1.1%. Germany's DAX (.GDAX), opens new tab also hit a record high and was last up 0.2%. The index is outperforming the STOXX 600 year-to-date so far. France's CAC 40 (.FCHI), opens new tab rose 0.7%, while Spain's IBEX (.IBEX), opens new tablost 0.6%. European Commission President Ursula von der Leyen said the EU is working "non-stop" to reach a low-tariff trade agreement with the U.S. EU trade chief Maros Sefcovic said on Wednesday that good progress has been made on a framework trade agreement, and a deal may be possible within days. The negotiators are also discussing potential measures to protect the EU auto industry, according to officials and auto industry sources. Some European carmakers edged higher, with Mercedes-Benz ( opens new tab up 1.1%. Porsche (P911_p.DE), opens new tab and Volkswagen gained 1.2% each. "The markets are reacting incredibly positively to it (EU-U.S. trade deal). We are in danger of considering it a done deal, there's a lot of work still to be U.S. can shift the goal posts a little bit", said Nick Saunders, CEO of stock trading platform Webull UK. U.S. President Donald Trump also announced a new 50% tariff on copper imports and a 50% duty on goods from Brazil on Wednesday, both effective August 1. Trump issued new tariff letters for seven minor trading partners, adding to 14 others issued earlier in the week. European mining stocks (.SXPP), opens new tab rose about 4%, leading gains on the benchmark, while healthcare (.SXDP), opens new tab gained 1%. Miners Rio Tinto (RIO.L), opens new tab jumped 4.5% and Anglo American (AAL.L), opens new tab rose 5.3% after falling in the previous session. Webull's Saunders said that gains in copper miners drove the FTSE 100 higher. Among individual stocks, Barry Callebaut (BARN.S), opens new tab fell 14.5% to the bottom of the STOXX 600 index after the Swiss chocolate maker cut its volume outlook for the third time this year. Kemira ( opens new tab tumbled 4.4% after the Finnish chemical company posted weaker-than expected preliminary second-quarter results and lowered its 2025 outlook. In contrast, Aalberts ( opens new tab rose 4.4% after the Dutch industrial group agreed to acquire Grand Venture Technology ( opens new tab. Investors are now bracing for the second-quarter earnings season to assess how companies are navigating trade volatility.
