The chief executive of US cereal maker Kellogg is planning to meet in London with British snacks and cookie maker United Biscuits in coming weeks about buying the maker of Jaffa Cakes for about £2 billion, said people familiar with the matter.

United Biscuits is simultaneously preparing prospectus documents needed for an initial public offering, said the people. The company's private equity owners, Blackstone Group and PAI Partners, bought the company for £1.6 billion in 2006.