Shares of TiVo spiked Friday before settling about 7.5 percent higher on a report the digital entertainment company has received buyout bids.
The Street reports several private equity buyers have expressed interest in a deal that would value the company at around $2.5 billion, citing anonymous sources.
The buyers reportedly offered just above $20 a share, a significant mark-up from the $15 price shares were trading at Friday morning.
Friday’s surge is the first significant uptick this month for the stock. It’s down more than 28 percent year to date.
TiVo did not immediately respond to a request for comment.
Read the full report from The Street here.
Source: Tech CNBC
TiVo spikes on a report of buyouts bids