- At least two institutional investors in Tremor International Ltd TRMR sought Chairperson Chris Stibbs launch an immediate strategic review of the company, Sky News reports.
- Additionally, the shareholders demanded that the Tel Aviv-based video and connected TV advertising firm use some of the cash on its balance sheet to repurchase stock.
- Separately, Tremor recently held initial talks with a significant U.S.-based private equity firm over a potential takeover bid and signed a non-disclosure agreement.
- Tremor held $333.3 million in cash and equivalents as of September 30.
- Price Action: TRMR shares traded higher by 5.76% at $16.15 in the premarket session on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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