Shares at Danish luxury stereo and TV maker Bang & Olufsen rose over 30% as the company confirmed that it was in talks regarding a potential takeover offer.
"The company has initiated a dialogue to investigate and analyse the firmness of these approaches," the company said in a statement. It added that the talks may or may not lead to an offer for the company, or part of it.
The company has made annual losses for the last three consecutive years as streaming becomes more popular.
More details about the potential offer will be released “if and when deemed necessary” the company added.
