Kellogg Stock Surges Amid Plans to Split Iconic Cereal Maker Into Three Separate Companies

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The Street

By Martin Baccardax “These businesses all have significant standalone potential, and an enhanced focus will enable them to better direct their resources toward their distinct strategic priorities,” said CEO Steve Cahillane. Kellogg (K) – Get Kellogg Company Report shares surged higher Tuesday after the venerable packaged food group said it will split into three separate companies. The iconic cereal brand will spin-off its snacks business, which represents around 80% of its overall sales, into a stand-alone public company focused on business divisions such as frozen breakfast, noodles and snack…

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