Hershey has been interested in looking at Kellanova – report (NYSE:K)

W. K. Kellogg Co and Kellanova Headquarters — wellesenterprises

Hershey (HSY) has been interested in taking a look at a potential acquisition of Kellanova (NYSE:K).

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

The comments come after Kellanova (K) shares surge 16% on Monday after media reports on Sunday that Mars, the maker of M&Ms and Snickers candy, was in talks to purchase snack-maker Kellanova. The WSJ said a deal could be valued at about $30 billion, based on a typical M&A premium with Kellanov’s market cap at $22 billion. Faber also confirmed that talks were happening.

Faber added that it didn’t appear that a potential combination of Mars and Kellanova (K), the maker of snacks such as Cheez-It, Pop-Tarts and Pringles, would cause any antitrust concerns.

A potential Kellanova (K) deal comes after Reuters reported in early May that TOMS Capital Investment Management had taken a “significant” stake in the US multinational food manufacturer,