News of the potential deal came after another household name, WK Kellogg, agreed to a $3.1 billion buyout from Ferrero.

Kraft Heinz is reportedly preparing to spin off its Kraft-branded products in a move that could value the new entity at up to $20 billion, leaving the core business focused on sauces and condiments like Heinz ketchup.

Kraft Heinz’s stock jumps after a Wall Street Journal report that the packaged-food giant is planning a breakup, 10 years after its megamerger.