Shares of Roku (NASDAQ: ROKU) climbed sharply higher on Thursday -- even as the broader market slipped -- jumping as much as 9.4%. As of 11:25 a.m. ET, the stock was still up 6.6%.

The catalyst that sent the streaming pioneer higher was speculation that the company could be on the verge of being acquired.

The rumor mill went into overdrive that Roku is preparing to be acquired, according to Dealreporter (as reported by The Fly). The publication focused on mergers and acquisitions (M&A) revealed that Roku had made a number of amendments to the severance language in its executive contracts, highlighting a "curious focus on change in control," which addresses what happens in the event of an acquisition. 

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Source Fool.com