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:

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Marketo Inc.

is said to be working with Morgan Stanley to explore strategic alternatives including a potential sale, according to sources as reported by

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%.

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Shares of General Mills

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

. Citigroup maintained their buy rating on General Mills and $72 price target General Mills closed at $13.82 on Tuesday, down $0.10.

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Alexza Pharmaceuticals, Inc.

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%.