ST. LOUIS — Post Holdings will spend $1.15 billion to bulk up its presence in the market for bagged and hot cereals by buying the privately held MOM Brands, maker of Malt-O-Meal cereals.

Post said today it will pay $1.05 billion in cash and give MOM Brands owners nearly 2.5 million shares of stock for the acquisition, which is expected to be completed in the third quarter.

MOM Brands' product portfolio includes branded, ready-to-eat cereals as well as hot wheat and oatmeal products. Its cereals include Golden Puffs, Frosted Mini Spooners and Cinnamon Toasters. The company is based in Lakeville, Minn.

Post Holdings plans to finance most of the deal and sell about $240 million in stock, subject to market conditions.

Post, which is based in St. Louis, also makes nutrition drinks and a variety of store-brand products including pasta and peanut butter. It said that it expects about $1.07 billion in revenue for the fiscal quarter that ended Dec. 31. That includes some results from the company's acquisitions of the PowerBar and Musashi brands as well as American Blanching.

DALLAS — AT&T is buying Nextel Mexico from NII Holdings for about $1.88 billion, minus the company's debt.The deal will give AT&T companies that operate under the name Nextel Mexico and hold all of the wireless properties in Mexico held by NII Holdings. That includes spectrum licenses, network assets, retail stores and about 3 million subscribers. Nextel Mexico's network covers about 76 million people.The acquisition is subject to a bankruptcy auction and approvals by the U.S. Bankruptcy Court for the Southern District of New York, which is currently overseeing the restructuring of NII Holdings. The company, based in Reston, Va., sought bankruptcy protection in September.The deal is also subject to approval by Mexico's telecom regulator Instituto Federal de Telecomunicaciones. The sale is expected to close in mid-2015.