08:21 AM EDT, 08/05/2024 (MT Newswires) -- (Updates with a comment from Kellanova ( K ) in the fourth paragraph and 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.

"By company policy, we don't comment on market speculation," Kellonova spokeswoman Kris Bahner said in an emailed response to MT Newswires.

Mars did not immediately respond to MT Newswires' request for comment.

Shares of Kellanova ( K ) rose more than 22% in recent Monday premarket activity.

Price: 77.00, Change: +14.02, Percent Change: +22.26