Report: Kraft close to completing sale of Post cereal unit

Kraft Foods and Ralcorp Holdings are close to a deal for the sale of Kraft's Post cereal business, which would be worth about $2.8 billion, sources told The Wall Street Journal. The reported sale is part of Kraft CEO Irene Rosenfeld's plan to trim the company's less-profitable assets and could be announced in the next few weeks, the paper reports.

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