FTSE 100 company RS Group PLC (LSE:RS1) moved 4% higher to 1,140p following reports over the weekend it could be primed for a takeover.
A report in the Times noted that the distributor of industrial and electronics products could be set for a possible 1500p a share bid, a premium to its high last November of 1235p.
Shares have performed strongly over the last six months as well, up 9% and generally regarded as one of the winners so far this year, with it successfully able to get its hands on spare parts and passing on the inflated cost to consumers at a time where many are struggling with supply chain issues.
RS Group, valued at over £5bn, was founded in 1937 by J.H Waring and P.M Sebestyen as Radiospares, and initially supplied radio repair shops with, as the name suggests, spare radio parts.
By the end of the second world war, however, the company grew to a national distribution firm, offering parts spare parts for televisions as well.
It was listed on the London Stock Exchange in 1967 as Electrocomponents, before deciding to rebrand as RS Group in May this year.
The report from the Times did not mention who the would-be buyer is.
However, competitor Farnell was bought by American electronics company Avent in 2016 for roughly £691mln, which may point to a stateside interest in UK electronic firms, whether that be via those already in the sector or private equity.