Kellogg (K), General Mills (GIS) and Mondelez (MDLZ) Gain on 3G/Buffett Speculation

November 8, 2016 10:12 AM EST

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Cereal makers Kellogg (NYSE: K) and General Mills (NYSE: GIS) are seeing strong upside of 4% and 2.8%, respectively, which appears to be driven by Berkshire Hathaway/3G takeover speculation.

Yesterday, as noted, the cash hoard at Warren Buffett's Berkshire is at a record high $85 billion. Also reports today suggest 3G is raising $8-$10 billion for M&A. The two have teamed up on multiple deals in the past, including Kraft Heinz.

There is also speculation 3G could acquire Mondelez International (NASDAQ: MDLZ) through its Kraft Heinz Co (NYSE: KHC) unit.

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