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Kellanova has spun off its WK Kellogg Co business, with investors receiving one share in WK Kellogg for every four shares owned in Kellanova. WK Kellogg is a $2.7 billion business focused on cereal, with plans to turn around its business in a huge way in the coming years. Kellanova is the larger remaining business, expected to generate $13 billion in sales this year and trade at a reasonable multiple.
Gary Pilnick, WK Kellogg CEO, joins 'Squawk on the Street' to discuss what the company's focus on cereal will allow them to do, what's in store for WK Kellogg going forward, and more.
Kellanova (K) concludes the separation of its North American cereal business, WK Kellogg Co, to unlock its full standalone potential.
Kellogg officially split into two distinct, publicly traded companies, and shares of both tumbled on Monday in their first trading session since the separation.
Sylvia Jablonski, Defiance ETFs, joins ‘Power Lunch' to discuss three stocks: Kellanova, Liberty Media Formula One and Zscaler.
Kellogg has split into two companies, trying to unlock better growth for Kellanova. The market appears to have overcompensated for the spinoff.
Kellogg's cereal business began trading as “WK Kellogg Co” on the New York Stock Exchange Monday after spinning off from its parent company. The remaining business, which includes snack brands such as Pringles and Cheez-It plus North American frozen food brands like Morningstar Farms, has been renamed Kellanova.
Kellanova — the company once known as Kellogg — said the spin-off of its cereal business is official. The company announced Monday (Oct. 2) that it had completed the separation, with WK Kellogg Co. now trading on the New York Stock Exchange, allowing Kellanova to focus on its snack business.
Kellanova CEO Steve Cahillane joins 'Squawk on the Street' to discuss the new snacking unit spinoff, separation from its North American cereal business, growth opportunities, and more.
WK Kellogg (NYSE: KLG ) stock made its public debut today as the cereal company completes its spinoff from Kellogg. Let's go over everything investors in Kellogg need to know about this split and how it affects the company.