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Kellogg Share Repurchase
NEW YORK - Nov 9/05 - SNS -- Kellogg Company has agreed to repurchase 9,371,567 of its shares from the W.K. Kellogg Foundation Trust for $400 million in a privately negotiated transaction.
The price per share of $42.68 is based on recent transactions on the New York Stock Exchange. The transaction is expected to close on Thursday, November 10, 2005.
In addition, the agreement provides Kellogg Company with the right to repurchase an additional $400 million of its shares from the W.K. Kellogg Foundation Trust if the Trust requests that the Company register those shares for public offering during the period between February 1 and December 31, 2006.
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