WK Kellogg's shares surged nearly 50% before the bell on Thursday after Reuters reported that Italian candy maker behind Ferrero Rocher is close to buying the cereal maker, uniting two of the world's most recognizable consumer food companies.

WK Kellogg, founded by Will Keith Kellogg in the early 20th century, pioneered the contemporary breakfast period with the discovery of Corn Flakes in 1894. The company now owns household cereal brands like Froot Loops,

Shares of Kellogg surged as much as 54% in post-market trading after the Wall Street Journal reported earlier on Wednesday that the two companies are nearing a deal.

Italian family-owned confectioner Ferrero is in "advanced discussions" to snap up US cerealmaker WK Kellogg as soon as this week, according to overnight reports

Nutella prices may soon climb after Turkey — the world’s top hazelnut producer — was hit by a devastating spring frost that wiped out large swathes of crops. As the firm behind the brand faces rising raw material costs,

(Bloomberg) --Ferrero SpA wants to woo shoppers in the world’s top chocolate consumer to grow its Kinder brand. The maker of Nutella has already expanded Kinder sales in the US to more than $500 ...

Ferrero SpA. Follow. ... Italy's Ferrero has agreed to buy U.S. based Wells Enterprises, which makes several ice creams brands including Blue Bunny, Bomb Pop and Halo Top, ...