Shares of cereal maker WK Kellogg (NYSE: KLG) rose 34% this week as of noon E.T. Thursday, according to data provided by S&P Global Market Intelligence.

One week after being added to a slew of Russell Value indexes, it turns out WK Kellogg was indeed a good value investment -- at least in the eyes of Ferrero.

On Wednesday, the Italian chocolate and candy juggernaut announced plans to buy Kellogg for $23 per share, prompting this week's spike in price.

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Source Fool.com