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Kellogg Board Approves Separation Into Two Independent, Publicly Traded Companies

RTTNews | 694 dagar sedan

Kellogg Board Approves Separation Into Two Independent, Publicly Traded Companies

(RTTNews) - Kellogg Co. (K) announced Monday that its Board of Directors formally approved the previously announced separation into two independent, publicly traded companies, Kellanova and WK Kellogg Co.

Upon completion of the separation on October 2, 2023, Kellogg will be renamed Kellanova, and will continue to trade on the New York Stock Exchange (NYSE) under the ticker symbol "K", while WK Kellogg Co is expected to begin trading on the NYSE under the ticker symbol "KLG".

At 12:01am EDT on October 2, 2023, Kellogg shareowners of record as of September 21, 2023, will receive 1 share of WK Kellogg Co (KLG) for every 4 shares of Kellogg Company (K) owned.

Kellanova will feature a growth-oriented portfolio that is weighted toward snacks and emerging markets, while WK Kellogg Co. will carry iconic brands and have a leading share position in North American cereal.

Kellanova is projected to generate net sales of approximately $13.4 billion to $13.6 billion and expects to deliver long-term annual growth rates of 3 to 5 percent for net sales on organic basis. Meanwhile, WK Kellogg Co projects net sales of approximately $2.7 billion.

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Kellogg Unveils Names For Global Snacking And North American Cereal Businesses

Kellogg Unveils Names For Global Snacking And North American Cereal Businesses

Kellogg Co. (K) unveiled on Wednesday the names for the future companies it will create through its planned separation into two industry-leading, public companies focused on global snacking and North American cereal.

RTTNews | 874 dagar sedan

Malaysia Bourse May Hand Back Tuesday's Gains

Malaysia Bourse May Hand Back Tuesday's Gains

The Malaysia stock market has alternated between positive and negative finishes through the last five trading days since the end of the three-day losing streak in which it had fallen more than 15 points or 1 percent. The Kuala Lumpur Composite Index now sits just beneath the 1,540-point plateau and it's likely to remain rangebound again on Wednesday.

RTTNews | 18 minuter sedan

Japan Shares May Turn Lower Again On Wednesday

Japan Shares May Turn Lower Again On Wednesday

The Japan stock market on Tuesday wrote a finish to the two-day slide in which it had tumbled almost 780 points or 1.8 percent. The Nikkei 225 now sits just shy of the 40,550-point plateau although it may head south again on Wednesday.

RTTNews | 33 minuter sedan

South Korea Shares May Be Stuck In Neutral

South Korea Shares May Be Stuck In Neutral

The South Korea stock market has moved higher in back-to-back sessions, advancing almost 80 points or 2.7 percent along the way. The KOSPI now sits just shy of the 3,200-point plateau although the rally may stall on Wednesday.

RTTNews | 48 minuter sedan

New Zealand Unemployment Data Due On Wednesday

New Zealand Unemployment Data Due On Wednesday

New Zealand will on Wednesday release Q2 figures for unemployment, highlighting a modest day for Asia-Pacific economic activity. The jobless rate is expected to tick up to 5.3 percent from 5.1 percent following a 0.1 percent loss in employment.

RTTNews | 1h 48minuter sedan

U.S. Dollar Declines Amid Soft ISM PMI Data

U.S. Dollar Declines Amid Soft ISM PMI Data

The U.S. dollar dropped against its most major counterparts in the New York session on Tuesday amid soft ISM services PMI data for July.

RTTNews | 2h 29minuter sedan

TSX Up More Than 2% On All-round Buying As Investors Bet On Fed Rate Cut Hopes

TSX Up More Than 2% On All-round Buying As Investors Bet On Fed Rate Cut Hopes

The Canadian market is up sharply on Tuesday with traders picking up stocks across the board, betting on hopes of an interest rate cut by the Federal Reserve next month.

RTTNews | 5h 48minuter sedan

Swiss Market Ends Modestly Higher

Swiss Market Ends Modestly Higher

The Switzerland market closed modestly higher on Tuesday after staying positive right through the day's trading session, with investors mostly reacting to the latest quarterly performance of big name companies.

RTTNews | 6h 21minuter sedan

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