Roku Jumps As New Change-in-Control Language Sparks Takeover Speculation

Seeking Alpha2022-09-15
  • Roku soared 6.6%after the company amended its severance benefit plan for in the event of a change in control, according to an8-K filing late Wednesday.
  • Shares of the TV streamer gained as some investors believe that the new change-in-control language may mean that a takeover offer may be coming.
  • Dealreporter highlighted the new language in an item, though it did point out that any possible takeover offer would be difficult given Roku's (ROKU) many defenses. ROKU founder and CEO Anthony Wood has control 59% of the voting power held through Class B shares.
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