The MG Unit Trust (ASX: MGC) share price certainly was a big mover on Thursday.
The Murray Goulburn investment vehicle's shares finished the day 14% higher at 88.5 cents.
Why did its shares surge higher?
This morning the company responded to recent media speculation regarding its previously announced strategic review.
According to today's release, the company confirmed that it has received a number of confidential, non-binding indicative proposals.
While these proposals have ranged from the sale of certain assets to whole of company transactions, the company has not received an offer of $1.20 per unit as speculated in the media.
However, Murray Goulburn and Deutsche Bank are engaging with a number of parties to assess their proposals and its valuation.
Although the company has warned that there is no certainty that any transaction will eventuate, some investors appear to believe that a successful takeover is coming judging by the share price movement today.