Shares of Zayo Group Holdings Inc. (ZAYO) rose 2.7% to close at $27.42 in trading on Monday following a report the company was a potential buyout target for Alphabet Inc. (GOOGL) and CenturyLink Inc. (CTL) .
Zayo, through its subsidiaries, provides bandwidth infrastructure solutions for the communications industry in the U.S., Canada and Europe.
Zayo shares jumped more than 8% after hours on Friday after Bloomberg reported that talks were heating up, though the report also noted that preliminary interest might not result in a bid.
Action Alerts PLUS holding Alphabet and CenturyLink aren't the first companies to be linked to Zayo, however. Private-equity firms that have been mentioned as having shown interest in the company include Blackstone, Stonepeak, KKR, I Squared, GTCR and Charlesbank.
Those buyout offers were reportedly in the low to mid $30 per share range.