Shares of WK Kellogg Co. (NYSE: KLG) jumped more than 47% in afterhours trading on Wednesday following reports that Italian confectionery giant Ferrero is close to acquiring the US cereal maker for approximately $3 billion.
According to sources cited by The Wall Street Journal, the deal could be finalized as soon as this week. WK Kellogg, the maker of iconic brands such as Froot Loops, Frosted Flakes, and Rice Krispies, currently has a market capitalization near $1.5 billion, with an additional $500 million in debt.
Meta Platforms Inc (NASDAQ:META, ETR:FB2A, SWX:FB) has invested $3.5 billion in the world’s largest eyewear manufacturer EssilorLuxottica SA, as part of its AI glasses push, people with knowledge of the matter told Bloomberg.
The Facebook and Instagram owner has acquired just under 3% of the Ray-Ban maker, the sources said.
Candel Therapeutics Inc (NASDAQ:CADL) has announced its inclusion in several value-oriented Russell indexes as part of the 2025 Russell US Indexes annual reconstitution.
The changes became effective with the opening of the US markets on June 30.
Ocean Power Technologies Inc (NYSE-A:OPTT) has announced the successful installation of its contracted PowerBuoy system for the Naval Postgraduate School (NPS).
The system is now deployed in Monterey Bay and features OPT’s latest PowerBuoy technology integrated with its proprietary Merrows suite.
Black Swan Graphene (TSX-V:SWAN) announced that the United States Patent and Trademark Office (USPTO) has granted it a patent covering its proprietary method for continuous production of high-quality sub-micron graphene and similar two-dimensional materials.
The process is designed to enable efficient, scalable, and cost-effective production of graphene for use in applications such as polymers, concrete, energy storage, and electronics.
Millennial Potash Corp (TSX-V:MLP, OTCQB:MLPNF) said on Wednesday that the US International Development Finance Corporation (DFC) has committed up to $3 million in development funding for its Banio Potash Project in Gabon, supporting a feasibility study aimed at advancing the fertilizer resource toward production.
The strategic investment, announced at a joint signing ceremony in Washington DC on July 8 attended by Gabonese President Brice Oligui Nguema, will be delivered through the DFC’s Project Development Program.