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Chicago is in another cycle of losing too many corporate headquarters. So it’s bad news for the city that Kraft-Heinz is taking steps that could lead to a sale.

Italian food giant the Ferrero Group, with its North American headquarters in Parsippany, will buy WK Kellogg and its "iconic" line of cereals.

With Kraft Heinz Co. reportedly considering a breakup of its business, some analysts believe more of its food-industry peers should do the same.