Latest news with #A4.7
The Advertiser
10-07-2025
- Business
- The Advertiser
Nutella maker Ferrero to buy cereal maker WK Kellogg
Italian confectioner Ferrero, known for brands like Nutella and Kinder, is buying the century-old US cereal company WK Kellogg. The deal is valued at about $US3.1 billion ($A4.7 billion). The Ferrero Group said on Thursday it will pay $US23 for each Kellogg share. The transaction includes the manufacturing, marketing and distribution of WK Kellogg Co's portfolio of breakfast cereals across the United States, Canada and the Caribbean. WK Kellogg's shares were up 30 per cent in pre-market trading on Thursday. Kellogg, which was founded in Battle Creek, Michigan, in 1906, makes Fruit Loops, Special K, Frosted Flakes and Rice Krispies. The current company was formed in 2023, when Kellogg's snack brands like Cheez-Its and Pringles were spun into a separate company called Kellanova. M&M's maker Mars Inc announced last year that it planned to buy Kellanova in a deal worth nearly $US30 billion. Ferrero Group, which was founded in Italy in 1946, has been trying to expand its US footprint. In 2018 it bought Nestle's US lolly brands, including Butterfinger, Nerds and SweeTarts. And in 2022 it bought Wells Enterprises, the maker of ice cream brands like Blue Bunny and Halo Top. The deal, which still needs approval from Kellogg shareholders, is expected to close in the second half of the year. Once the transaction is complete, Kellogg's stock will no longer trade on the New York Stock Exchange and the company will become a Ferrero subsidiary. Italian confectioner Ferrero, known for brands like Nutella and Kinder, is buying the century-old US cereal company WK Kellogg. The deal is valued at about $US3.1 billion ($A4.7 billion). The Ferrero Group said on Thursday it will pay $US23 for each Kellogg share. The transaction includes the manufacturing, marketing and distribution of WK Kellogg Co's portfolio of breakfast cereals across the United States, Canada and the Caribbean. WK Kellogg's shares were up 30 per cent in pre-market trading on Thursday. Kellogg, which was founded in Battle Creek, Michigan, in 1906, makes Fruit Loops, Special K, Frosted Flakes and Rice Krispies. The current company was formed in 2023, when Kellogg's snack brands like Cheez-Its and Pringles were spun into a separate company called Kellanova. M&M's maker Mars Inc announced last year that it planned to buy Kellanova in a deal worth nearly $US30 billion. Ferrero Group, which was founded in Italy in 1946, has been trying to expand its US footprint. In 2018 it bought Nestle's US lolly brands, including Butterfinger, Nerds and SweeTarts. And in 2022 it bought Wells Enterprises, the maker of ice cream brands like Blue Bunny and Halo Top. The deal, which still needs approval from Kellogg shareholders, is expected to close in the second half of the year. Once the transaction is complete, Kellogg's stock will no longer trade on the New York Stock Exchange and the company will become a Ferrero subsidiary. Italian confectioner Ferrero, known for brands like Nutella and Kinder, is buying the century-old US cereal company WK Kellogg. The deal is valued at about $US3.1 billion ($A4.7 billion). The Ferrero Group said on Thursday it will pay $US23 for each Kellogg share. The transaction includes the manufacturing, marketing and distribution of WK Kellogg Co's portfolio of breakfast cereals across the United States, Canada and the Caribbean. WK Kellogg's shares were up 30 per cent in pre-market trading on Thursday. Kellogg, which was founded in Battle Creek, Michigan, in 1906, makes Fruit Loops, Special K, Frosted Flakes and Rice Krispies. The current company was formed in 2023, when Kellogg's snack brands like Cheez-Its and Pringles were spun into a separate company called Kellanova. M&M's maker Mars Inc announced last year that it planned to buy Kellanova in a deal worth nearly $US30 billion. Ferrero Group, which was founded in Italy in 1946, has been trying to expand its US footprint. In 2018 it bought Nestle's US lolly brands, including Butterfinger, Nerds and SweeTarts. And in 2022 it bought Wells Enterprises, the maker of ice cream brands like Blue Bunny and Halo Top. The deal, which still needs approval from Kellogg shareholders, is expected to close in the second half of the year. Once the transaction is complete, Kellogg's stock will no longer trade on the New York Stock Exchange and the company will become a Ferrero subsidiary. Italian confectioner Ferrero, known for brands like Nutella and Kinder, is buying the century-old US cereal company WK Kellogg. The deal is valued at about $US3.1 billion ($A4.7 billion). The Ferrero Group said on Thursday it will pay $US23 for each Kellogg share. The transaction includes the manufacturing, marketing and distribution of WK Kellogg Co's portfolio of breakfast cereals across the United States, Canada and the Caribbean. WK Kellogg's shares were up 30 per cent in pre-market trading on Thursday. Kellogg, which was founded in Battle Creek, Michigan, in 1906, makes Fruit Loops, Special K, Frosted Flakes and Rice Krispies. The current company was formed in 2023, when Kellogg's snack brands like Cheez-Its and Pringles were spun into a separate company called Kellanova. M&M's maker Mars Inc announced last year that it planned to buy Kellanova in a deal worth nearly $US30 billion. Ferrero Group, which was founded in Italy in 1946, has been trying to expand its US footprint. In 2018 it bought Nestle's US lolly brands, including Butterfinger, Nerds and SweeTarts. And in 2022 it bought Wells Enterprises, the maker of ice cream brands like Blue Bunny and Halo Top. The deal, which still needs approval from Kellogg shareholders, is expected to close in the second half of the year. Once the transaction is complete, Kellogg's stock will no longer trade on the New York Stock Exchange and the company will become a Ferrero subsidiary.
Perth Now
10-07-2025
- Business
- Perth Now
Nutella maker Ferrero to buy cereal maker WK Kellogg
Italian confectioner Ferrero, known for brands like Nutella and Kinder, is buying the century-old US cereal company WK Kellogg. The deal is valued at about $US3.1 billion ($A4.7 billion). The Ferrero Group said on Thursday it will pay $US23 for each Kellogg share. The transaction includes the manufacturing, marketing and distribution of WK Kellogg Co's portfolio of breakfast cereals across the United States, Canada and the Caribbean. WK Kellogg's shares were up 30 per cent in pre-market trading on Thursday. Kellogg, which was founded in Battle Creek, Michigan, in 1906, makes Fruit Loops, Special K, Frosted Flakes and Rice Krispies. The current company was formed in 2023, when Kellogg's snack brands like Cheez-Its and Pringles were spun into a separate company called Kellanova. M&M's maker Mars Inc announced last year that it planned to buy Kellanova in a deal worth nearly $US30 billion. Ferrero Group, which was founded in Italy in 1946, has been trying to expand its US footprint. In 2018 it bought Nestle's US lolly brands, including Butterfinger, Nerds and SweeTarts. And in 2022 it bought Wells Enterprises, the maker of ice cream brands like Blue Bunny and Halo Top. The deal, which still needs approval from Kellogg shareholders, is expected to close in the second half of the year. Once the transaction is complete, Kellogg's stock will no longer trade on the New York Stock Exchange and the company will become a Ferrero subsidiary.
The Advertiser
20-05-2025
- Health
- The Advertiser
Harvard University loses another $93m in federal grants
The US Department of Health and Human Services is terminating $A93 million in federal grants to Harvard University, saying the Ivy League institution failed to address anti-Semitic harassment and ethnic discrimination on campus. US President Donald Trump's administration has frozen or ended federal grants and contracts for the university worth nearly $US3 billion ($A4.7 billion) in recent weeks. Since taking office in January, Trump has sought to use federal research funding to overhaul US academia, which he says has been gripped by anti-American, Marxist and "radical left" ideologies. The administration has accused Harvard of continuing to consider ethnicity when reviewing student applications and of allowing discrimination against Jews as a result of the pro-Palestinian student protest movement that roiled American campuses last year. New York's Columbia University has also been targeted over alleged anti-Semitism. "Due to Harvard University's continued failure to address anti-Semitic harassment and race discrimination, HHS is terminating multiple multi-year grant awards ... over their full duration," the health department said in a post on X on Monday. Harvard University did not immediately respond to a Reuters request for comment. The Cambridge, Massachusetts-based institution has previously said that it "cannot absorb the entire cost" of the frozen grants, and that it was working with researchers to help them find alternative funding. It is also suing the Trump administration over its decision to cut grants. Earlier this month, the university settled a high-profile lawsuit by an Orthodox Jewish student who said Harvard was ignoring anti-Semitism on campus. The settlement came four months after Harvard promised additional protections for Jewish students, as it resolved two lawsuits claiming it was a hotbed of anti-Semitism. The US Department of Health and Human Services is terminating $A93 million in federal grants to Harvard University, saying the Ivy League institution failed to address anti-Semitic harassment and ethnic discrimination on campus. US President Donald Trump's administration has frozen or ended federal grants and contracts for the university worth nearly $US3 billion ($A4.7 billion) in recent weeks. Since taking office in January, Trump has sought to use federal research funding to overhaul US academia, which he says has been gripped by anti-American, Marxist and "radical left" ideologies. The administration has accused Harvard of continuing to consider ethnicity when reviewing student applications and of allowing discrimination against Jews as a result of the pro-Palestinian student protest movement that roiled American campuses last year. New York's Columbia University has also been targeted over alleged anti-Semitism. "Due to Harvard University's continued failure to address anti-Semitic harassment and race discrimination, HHS is terminating multiple multi-year grant awards ... over their full duration," the health department said in a post on X on Monday. Harvard University did not immediately respond to a Reuters request for comment. The Cambridge, Massachusetts-based institution has previously said that it "cannot absorb the entire cost" of the frozen grants, and that it was working with researchers to help them find alternative funding. It is also suing the Trump administration over its decision to cut grants. Earlier this month, the university settled a high-profile lawsuit by an Orthodox Jewish student who said Harvard was ignoring anti-Semitism on campus. The settlement came four months after Harvard promised additional protections for Jewish students, as it resolved two lawsuits claiming it was a hotbed of anti-Semitism. The US Department of Health and Human Services is terminating $A93 million in federal grants to Harvard University, saying the Ivy League institution failed to address anti-Semitic harassment and ethnic discrimination on campus. US President Donald Trump's administration has frozen or ended federal grants and contracts for the university worth nearly $US3 billion ($A4.7 billion) in recent weeks. Since taking office in January, Trump has sought to use federal research funding to overhaul US academia, which he says has been gripped by anti-American, Marxist and "radical left" ideologies. The administration has accused Harvard of continuing to consider ethnicity when reviewing student applications and of allowing discrimination against Jews as a result of the pro-Palestinian student protest movement that roiled American campuses last year. New York's Columbia University has also been targeted over alleged anti-Semitism. "Due to Harvard University's continued failure to address anti-Semitic harassment and race discrimination, HHS is terminating multiple multi-year grant awards ... over their full duration," the health department said in a post on X on Monday. Harvard University did not immediately respond to a Reuters request for comment. The Cambridge, Massachusetts-based institution has previously said that it "cannot absorb the entire cost" of the frozen grants, and that it was working with researchers to help them find alternative funding. It is also suing the Trump administration over its decision to cut grants. Earlier this month, the university settled a high-profile lawsuit by an Orthodox Jewish student who said Harvard was ignoring anti-Semitism on campus. The settlement came four months after Harvard promised additional protections for Jewish students, as it resolved two lawsuits claiming it was a hotbed of anti-Semitism. The US Department of Health and Human Services is terminating $A93 million in federal grants to Harvard University, saying the Ivy League institution failed to address anti-Semitic harassment and ethnic discrimination on campus. US President Donald Trump's administration has frozen or ended federal grants and contracts for the university worth nearly $US3 billion ($A4.7 billion) in recent weeks. Since taking office in January, Trump has sought to use federal research funding to overhaul US academia, which he says has been gripped by anti-American, Marxist and "radical left" ideologies. The administration has accused Harvard of continuing to consider ethnicity when reviewing student applications and of allowing discrimination against Jews as a result of the pro-Palestinian student protest movement that roiled American campuses last year. New York's Columbia University has also been targeted over alleged anti-Semitism. "Due to Harvard University's continued failure to address anti-Semitic harassment and race discrimination, HHS is terminating multiple multi-year grant awards ... over their full duration," the health department said in a post on X on Monday. Harvard University did not immediately respond to a Reuters request for comment. The Cambridge, Massachusetts-based institution has previously said that it "cannot absorb the entire cost" of the frozen grants, and that it was working with researchers to help them find alternative funding. It is also suing the Trump administration over its decision to cut grants. Earlier this month, the university settled a high-profile lawsuit by an Orthodox Jewish student who said Harvard was ignoring anti-Semitism on campus. The settlement came four months after Harvard promised additional protections for Jewish students, as it resolved two lawsuits claiming it was a hotbed of anti-Semitism.
West Australian
20-05-2025
- Health
- West Australian
Harvard University loses another $93m in federal grants
The US Department of Health and Human Services is terminating $A93 million in federal grants to Harvard University, saying the Ivy League institution failed to address anti-Semitic harassment and ethnic discrimination on campus. US President Donald Trump's administration has frozen or ended federal grants and contracts for the university worth nearly $US3 billion ($A4.7 billion) in recent weeks. Since taking office in January, Trump has sought to use federal research funding to overhaul US academia, which he says has been gripped by anti-American, Marxist and "radical left" ideologies. The administration has accused Harvard of continuing to consider ethnicity when reviewing student applications and of allowing discrimination against Jews as a result of the pro-Palestinian student protest movement that roiled American campuses last year. New York's Columbia University has also been targeted over alleged anti-Semitism. "Due to Harvard University's continued failure to address anti-Semitic harassment and race discrimination, HHS is terminating multiple multi-year grant awards ... over their full duration," the health department said in a post on X on Monday. Harvard University did not immediately respond to a Reuters request for comment. The Cambridge, Massachusetts-based institution has previously said that it "cannot absorb the entire cost" of the frozen grants, and that it was working with researchers to help them find alternative funding. It is also suing the Trump administration over its decision to cut grants. Earlier this month, the university settled a high-profile lawsuit by an Orthodox Jewish student who said Harvard was ignoring anti-Semitism on campus. The settlement came four months after Harvard promised additional protections for Jewish students, as it resolved two lawsuits claiming it was a hotbed of anti-Semitism.
Perth Now
20-05-2025
- Health
- Perth Now
Harvard University loses another $93m in federal grants
The US Department of Health and Human Services is terminating $A93 million in federal grants to Harvard University, saying the Ivy League institution failed to address anti-Semitic harassment and ethnic discrimination on campus. US President Donald Trump's administration has frozen or ended federal grants and contracts for the university worth nearly $US3 billion ($A4.7 billion) in recent weeks. Since taking office in January, Trump has sought to use federal research funding to overhaul US academia, which he says has been gripped by anti-American, Marxist and "radical left" ideologies. The administration has accused Harvard of continuing to consider ethnicity when reviewing student applications and of allowing discrimination against Jews as a result of the pro-Palestinian student protest movement that roiled American campuses last year. New York's Columbia University has also been targeted over alleged anti-Semitism. "Due to Harvard University's continued failure to address anti-Semitic harassment and race discrimination, HHS is terminating multiple multi-year grant awards ... over their full duration," the health department said in a post on X on Monday. Harvard University did not immediately respond to a Reuters request for comment. The Cambridge, Massachusetts-based institution has previously said that it "cannot absorb the entire cost" of the frozen grants, and that it was working with researchers to help them find alternative funding. It is also suing the Trump administration over its decision to cut grants. Earlier this month, the university settled a high-profile lawsuit by an Orthodox Jewish student who said Harvard was ignoring anti-Semitism on campus. The settlement came four months after Harvard promised additional protections for Jewish students, as it resolved two lawsuits claiming it was a hotbed of anti-Semitism.
