The new date is Jun 21, 2022, 9:00am.

The announcement sent shares of the company surging in premarket trading.

US-POLITICS-MEDIA-FOOD

There are boxes of cereals on the shelf.

AFP via Getty Images

Most of the domestic non-cereal products of Global Snacking Co., including Cheez-its and Pop Tarts, will be included in the company's sales.

The Plant Co., will cover its plant-based foods anchored by its MorningStar Farms line, as well as the North America Cereal Co., which will include the business of Kellogg's cereals.

The plant-based spinoff accounted for $340 million in sales in 2021.

The spinoffs will be completed by the end of next year, according to the company.

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Big Number

It was 4.9%. After rising as much as 8%, the share price of Kellogg fell to $71.50, but still reached $71.50 before the market opened.

Tangent

Mondelez made a big deal Monday when it said it would acquire Clif Bar for at least $2.9 billion.

Clif Bar will be acquired by Mondelez for nearly $3 billion.