Ticker: Italian candy giant buys Tony the Tiger; Ford recalls over 850,000 cars 

Italian confectioner Ferrero known for brands like Nutella and Kinder is buying the century-old U S cereal company WK Kellogg in an effort to expand its North American sales The Ferrero Group commented Thursday it will pay for each Kellogg share or approximately billion The transaction includes WK Kellogg Co s six manufacturing plants and the marketing and distribution of its breakfast cereals across the United States Canada and the Caribbean WK Kellogg s shares were up in mid-afternoon trading on Thursday Kellogg was founded in Battle Creek Michigan in after its founder accidentally figured out how to make flaked cereal while he was experimenting with granola Kellogg still makes Corn Flakes as well as Froot Loops Special K Frosted Flakes Rice Krispies and other cereals Kellogg has four U S plants which are located in Michigan Pennsylvania Tennessee and Nebraska The company has around employees Ford recalls cars Ford is recalling more than of its cars across the U S because the low-pressure fuel pump inside the vehicles may fail and potentially cause an engine stall while driving The recall covers a wide range of latest Ford and Lincoln-branded vehicles made including certain Ford Broncos Explorers and F- s as well as Lincoln Aviators and Navigators according to the National Highway Traffic Safety Administration Ford plans to send out notification letters to affected owners starting July to warn of safety risks related to expected fuel pump failure A remedy is still under evolution the NHTSA s recall assessment notes Owners will receive an additional letter with instructions to take their car to an authorized dealer for facility when the time comes and that there will be no charge