ByteDance Finalizes Majority U.S.-Owned TikTok Joint Venture to Avert American Ban 
Locked up then locked out: how NZ’s bank rules make life for ex-prisoners even harder 
South Korea Factory Activity Returns to Growth in December on Export Rebound 
U.S. Dollar Steadies Ahead of Fed Minutes as Markets Eye Policy Divisions 
Oil Prices Slide in 2025 as Oversupply and Geopolitical Risks Shape Market Outlook 
Asian Stock Markets Start New Year Higher as Tech and AI Shares Drive Gains 
Federal Reserve Begins Treasury Bill Purchases to Stabilize Reserves and Money Markets 
FAA Says It Is Not Blocking Boeing 737 MAX 7 and MAX 10 Certification 
FCC Chairman Raises Competition Concerns Over Netflix–Warner Bros. Discovery Deal 
Gold Prices Rebound in Europe as Geopolitical Tensions and Fed Outlook Support Bullion 
Britain has almost 1 million young people not in work or education – here’s what evidence shows can change that 
Toyota Recalls 162,000 Tundra Vehicles in U.S. Over Multimedia Display Issue 
U.S. Vaccine Policy Shifts Under RFK Jr. Create Uncertainty for Pharma and Investors 
Yes, government influences wages – but not just in the way you might think 
The Beauty Beneath the Expressway: A Journey from Self to Service 
U.S. Stock Index Futures Steady as Markets Await Fed Policy Clues in Holiday-Thinned Trade 
South Korea Inflation Rises to 2.3% in December, Matching Market Expectations 
The Kellogg Company takes a critical stride in its division plan, filing a Form 10 registration statement with the US SEC to spin off its North American cereal business, WK Kellogg Co, into a separate public entity. This move paves the way for the birth of two distinct companies, Kellanova and WK Kellogg Co, by late 2023, enabling more focused and strategic operations.
This strategic move will result in the creation of two public companies: Kellanova and WK Kellogg Co. Kellanova, a global snacking, international cereal and noodles, and North America frozen foods business, is expected to achieve approximately $12.6 billion in net sales for 2022. On the other hand, WK Kellogg Co, focusing on the cereal market in the US, Canada, and the Caribbean, is projected to generate around $2.7 billion in net sales for the same year.
Completion of the separation transaction is targeted for the fourth quarter of 2023, subject to customary conditions, final approval by the board, and the effectiveness of the Form 10 registration statement.
Kellogg Company Chairman and CEO, Steve Cahillane, emphasized the significance of this filing as a crucial step towards the successful establishment of the two new entities. Kellanova and WK Kellogg Co will benefit from a reinvigorated focus, enabling them to strategically direct their resources and leverage their unique strengths, ultimately delivering greater value to their shareholders.
Form 10 provides comprehensive information about WK Kellogg Co, including its portfolio, market dynamics, strategic direction, risk factors, and management. It also features financial statements and an analysis of the key drivers behind the company's past performance.
It is important to note that Form 10, filed on July 24, 2023, may be subject to revisions before the spin's effective date. Moreover, Kellogg Company's investor website can access supplemental business information concerning Kellanova and WK Kellogg Co and updates on the separation process. A dedicated website is available for ongoing information related to the separation.
Kellogg Company's decision to divide into two distinct businesses marks an exciting chapter in its history, positioning each entity to embrace its unique strengths and drive sustained growth in its respective markets.
Photo: Sten Ritterfeld/Unsplash
