Why WK Kellogg Shares Skyrocketed This Week
Shares of cereal maker WK Kellogg (NYSE: KLG) rose 34% this week as of noon E.T. Thursday, according to data provided by S&P Global Market Intelligence.
One week after being added to a slew of Russell Value indexes, it turns out WK Kellogg was indeed a good value investment -- at least in the eyes of Ferrero.
On Wednesday, the Italian chocolate and candy juggernaut announced plans to buy Kellogg for $23 per share, prompting this week's spike in price.
Source Fool.com
