Why Tremor International (TRMR) Shares Are Trading Higher Today

Tremor International Ltd TRMR attracted several inquiries from prospective bidders.
Tremor's board had asked bankers at Goldman Sachs to review its options and evaluate a fair price for a formal offer, Sky News reports.
The update comes a year after the withdrawal of a 900p-a-share takeover offer by a U.S. buyout firm amid market uncertainty prompted by Russia's invasion of Ukraine.
Both strategic and financial bidders approached Tremor, which provides digital advertising solutions to clients like Amazon.Com Inc AMZN and Walt Disney Co DIS.
Tremor failed to satisfy investors due to its weak share price performance, which forced it to withdraw pay-related resolutions at its most recent AGM. The shares have more than halved during the last 12 months.
In March, Tremor reported fourth-quarter revenue growth of 5% year-on-year to $107.7 million, beating the consensus of $105.8 million.
Non-IFRS EPS of $0.15 missed the consensus of $0.37.
Price Action: TRMR shares traded higher by 10.30% at $6.29 on the last check Tuesday.