Kellogg Will Split into 3 Companies


Kellogg has announced that it will separate into three different companies to create "greater strategic, operational, and financial focus" for each of the new firms that will be named at a later date.


"Kellogg has been on a successful journey of transformation to enhance performance and increase long-term shareowner value," said Steve Cahillane, Kellogg Company's chairman and chief executive officer, in a statement announcing the company's plans. "This has included re-shaping our portfolio, and today's announcement is the next step in that transformation."


"These businesses all have significant standalone potential, and an enhanced focus will enable them to better direct their resources toward their distinct strategic priorities," Cahillane continued. "In turn, each business is expected to create more value for all stakeholders, and each is well positioned to build a new era of innovation and growth."


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Stock price right now is $68.53



Source: CNBC


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