Benzinga's M&A Chatter for Tuesday May 10, 2016

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday May 10, 2016: Hearing Marketo Exploring Options, Including Sale The Rumor:
Marketo Inc. MKTO is said to be working with Morgan Stanley to explore strategic alternatives including a potential sale, according to sources as reported by Bloomberg on Tuesday. The sources said Marketo is talking to strategic companies and private equity firms regarding potential interest in a deal. Spokespersons for Marketo and Morgan Stanley declined to comment on the report. Marketo closed at $26.77 on Tuesday, up 24%. Citi Suggests General Mills Could Sell for $86/Share The Analyst Comment:
Shares of General Mills GIS spiked higher Tuesday, as a Citigroup note indicated the cereal maker could potentially sell for $86.00 per share in a buyout. Analyst David Driscoll said General Mills could be a target of 3G and Kraft Heinz KHC. Citigroup maintained their buy rating on General Mills and $72 price target General Mills closed at $13.82 on Tuesday, down $0.10. Ferrer Pharma to Acquire Alexza Pharmaceuticals for $0.90/Share in Cash The Deal:
Alexza Pharmaceuticals, Inc. ALXA and Grupo Ferrer Internacional, S.A. announced Tuesday, that they have entered into a definitive agreement under which Ferrer Pharma will acquire Alexza for $0.90 per share in cash. Alexza stockholders will also be granted contingent value rights to receive cash payments in four payment categories, if specified milestones are achieved following the closing. The transaction is expected to close in Q2 of 2016. Alexza Pharmaceuticals closed at $0.91 on Tuesday, up 68%.