Kellanova (K) shares are jumping 19% in premarket trading Monday on a report that candy giant Mars is in advanced talks to buy the maker of Pop-Tarts and Pringles.

According to The Wall Street Journal, a deal could be im🐼minꦰent and would value Kellanova at around $30 billion in one of this year’s biggest M&A transactions.

Reuters was the first to report on the potential deal.

Kellanova Was Spun Off From Kellogg Last Year

Kellanova was spun out of Kellogg last year and is focused on snacks and other foods, while WK Kellogg (KLG) houses the traditional K🌺ellogg cereal brands, such as Corn Flakes and Fruit Loops.

At the m❀arket close Friday, Kellanova’s market value was around $22 billion.

If the deal is struck, it would mark one of the largest M&A deals of the year and biggest in the packaged foods sector ever. Last September, J.M. Smucker (SJM) 澳洲幸运5官方开奖结果体彩网:agreed to buy Hostess Brands (TWNK), the maker of Twinki♏es, for $5.6 billion, including $900 million in debt.

Last week, Kellanova reported 澳洲幸运5官方开奖结果体彩网:better-than-expecte♎d🦩 second-quarter results and raised its 🎀guidance, boosted by North 🌊and Latin American demand.

Kellanova shares were up 19% to $75.00 about 30 minutes before the opening bell and have surged about 29% since Wednesday's close.