07:47 AM EDT, 08/05/2024 (MT Newswires) -- (Updates with the latest stock move in the last paragraph.)

Mars, the company behind M&M's and Snickers, is considering buying snacks maker Kellanova ( K ) , multiple news outlets reported, citing sources familiar with the matter.

A potential transaction could value Kellanova ( K ) at roughly $30 billion including a typical deal premium, The Wall Street Journal reported.

There is no guarantee of a definitive deal and other suitors could also target Kellanova ( K ), sources told Reuters.

Kellanova ( K ) and Mars did not immediately respond to MT Newswires' requests for comment.

Shares of Kellanova ( K ) rose nearly 20% in premarket activity Monday.

Price: 75.53, Change: +12.55, Percent Change: +19.93