Hershey Interested in Taking Part in Kellanova – Report (NYSE:K)

WK Kellogg Co and Kellanova Headquarters — wellesenterprises

Hershey (HSY) is interested in a potential takeover of Kellanova (NYSE:K).

Other companies that may be interested in Kellanova (K) include Mondelez International (MDLZ) and PepsiCo (PEP), CNBC’s David Faber reported Monday.

This comments appear after Kellanova (K) Shares increased by 16% on Monday after media reported on Sunday that Mars, the maker of M&M and Snickers candies, is in talks to buy snack manufacturer Kellanova. According to the WSJ, the deal could be valued at around $30 billion, based on the typical M&A premium, given Kellanov’s market capitalization of $22 billion. Faber also confirmed that the talks continued.

Faber added that it does not appear that a potential combination of Mars and Kellanova (K), maker of snack foods such as Cheez-Its, Pop-Tarts and Pringles, would raise any antitrust concerns.

The potential deal with Kellanova (K) comes after Reuters reported in early May that TOMS Capital Investment Management had acquired a “significant” stake in the U.S. multinational food producer,