Kraft has sent its financial information to potential bidders, which may include PepsiCo Inc., The Wall Street Journal reported Thursday, citing unidentified people familiar with the situation. A deal could be signed later this year if the auction is successful, the paper said. PepsiCo's Quaker unit makes the Cap'n Crunch and Life cereals.
Other cereal makers including General Mills Inc. and Ralcorp Holdings Inc. may also be interested in buying the Post business, the Journal said. General Mills' cereal brands include Total Raisin Bran and Cocoa Puffs while Ralcorp's private-label foods include cereal.