Nutella-maker Ferrero to gobble up cereal giant Kellogg for $3.1 billion

The Italian candy company Ferrero plans to buy the American cereal maker Kellogg for $3.1 billion, the companies announced Thursday. The deal would unite the makers of household brands including Nutella and Frosted Flakes.

Italian candy giant Ferrero offered the American breakfast company a $3.1 billion deal too sweet to pass up.

(Image credit: Brandon Bell/Getty Images (left photo) and Justin Sullivan/Getty Images (right photo))