“Kellogg shares jump on plans to separate into three companies”
June 21, 2022
“Kellogg announced Tuesday that it plans to separate into three independent public companies, sectioning off its iconic brands into distinct snacking, cereal and plant-based businesses.
Shares of the company rose 6.5% in premarket trading on the announcement…
Combined, Kellogg’s plant-based division and North American cereal business accounted for about 20% of the company’s revenue last year. The remaining business includes its snacks, noodles, international cereal and North American frozen breakfast brands.
The tax-free spinoffs are expected to be completed by the end of 2023…”
https://www.cnbc.com/2022/06/21/kellogg-to-split-into-three-independent-companies.html