Kellogg Company (NYSE: K) is having a great time in the market at the moment as takeover rumors start to excite investors. Of course, our partners at Trade Ideas were the first to alert us to the gains. A the moment (10:27), K is trading at $71.55 per share after a gain of $0.86 per share (1.22%) thus far today.
K Stock Gains On Takeover Rumors
As mentioned above, Kellogg Company is having a great time in the market at the moment. The gains all started minutes ago as rumors broke that the company would soon be acquired. While the rumors don't suggest a price on the acquisition, they do name a potential buyer. If these rumors are true, Berkshire Hathaway (NYSE: BRK-A) is considering acquiring all outstanding shares of K stock.