Why Tremor International 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.
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