Kellogg buys Keebler

- Last updated on GMT

Related tags: Maize

Kellogg Co., the U.S cereal giant, agreed yesterday to purchase
Keebler Foods Inc, the no.2 U.S. biscuit and cracker maker, for
about $3.6 billion (U.S),...

Kellogg Co., the U.S cereal giant, agreed yesterday to purchase Keebler Foods Inc, the no.2 U.S. biscuit and cracker maker, for about $3.6 billion (U.S), Reuters reported. Kellogg announced it would pay $42 a share for Keebler and will assume about $800 million in Keebler debt. The agreement will create a diversified food company with $10 billion in annual sales. Keebler was put up for sale in July by Flowers Industries Inc., which has a 55 per cent stake in Keebler.

Related topics: Market Trends

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