The Ademi Firm is investigating WK Kellogg Co (NYSE: KLG) for possible breaches of fiduciary duty and other violations of law in its transaction with Ferrero.
In the transaction, shareholders of WK Kellogg Co will receive $23.00 per share in cash, representing a total enterprise value of $3.1 billion. WK Kellogg Co insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for WK Kellogg Co by imposing a significant penalty if WK Kellogg Co accepts a competing bid. We are investigating the conduct of the WK Kellogg Co board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
Join this Action