Why Kellogg Stock Skyrocketed as Much as 33% on Thursday

The breakfast cereal icon is being taken private.Shares of WK Kellogg (KLG 30.66%) charged sharply higher Thursday, surging as much as 33.7%. As of 10:40 a.m. ET, the stock was still up 33.6%.The catalyst that sent the iconic cereal maker soaring was news that the company would be taken private. A sweet dealReports emerged late Wednesday that Kellogg, purveyor of such well-known cereal brands as Frosted Flakes, Fruit Loops, and Mini Wheats, was being courted by Italian confectionery maker Ferrero, which is ...