Kraft Might Sell Post Unit

Kraft (KFT Quote - Cramer on KFT - Stock Picks) is working on an arrangement to sell its Post cereals unit to Ralcorp Holdings (RAH Quote - Cramer on RAH - Stock Picks) for around $2.8 billion, according to a published report.

The Wall Street Journal, citing a person who is aware of the situation, said a deal could be announced in the next few weeks. Post cereal names include Honey-Comb, Raisin Bran and Grape-Nuts.

Kraft was down 2 cents at $32.80 in premarket trading Monday.