Ferrero Nears $3 Billion Deal for WK Kellogg

Ferrero International SA, the Italian family-owned company known for its signature gold foil-wrapped chocolates, is close to acquiring cereal producer WK Kellogg Co. for about $3 billion, according to people with knowledge of the matter.

Talks are advanced and a deal could be announced this week, the people said, asking not to be identified discussing private information.