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Diamond Foods (DMND) Stock Soaring on Kellogg Merger Speculation

NEW YORK (TheStreet) -- Shares of Diamond Foods (DMND - Get Report) are gaining by 9.66% to $36 in pre-market trading on Friday morning, following speculation that Kellogg (K) is in advanced talks to acquire the snack products maker in a possible $1 billion deal.

Kellogg, which is known for its breakfast foods and cereal brands including Frosted Flakes, Rice Krispies and Eggo waffles, could offer...