Roku jumps as new change-in-control language sparks takeover speculation
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Roku Inc. (NASDAQ:ROKU) soared 6.6% after the company amended its severance benefit plan for in the event of a change in control, according to an 8-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.
Roku (ROKU) didn't respond to Seeking Alpha request for comment on the 8-K filing.
The speculation comes after an early June report that after Roku (ROKU) had "abruptly" closed a trading window for employees and talk of acquisition by Netflix (NFLX) were swirling inside the streaming company.

Business Insider said at the time that people familiar with the matter noted that the possibility of a tie-up between Roku (ROKU) and Netflix (NFLX) has been discussed inside the company.