Denmark's Bang & Olufsen considering takeover bid

Consumer electronics company Bang & Olufsen says it's in talks over a potential takeover bid, sending its shares surging more than 30 percent.

The Danish company says it has "initiated a dialogue to investigate and analyze the firmness" of the offer, but did not provide any details.

A brief company statement on Thursday said the talks could lead to an offer for "the whole or part" of its share capital, but declined to provide details except to say that more information would be provided "if and when deemed necessary."

Bang & Olufsen, founded in 1925, is known for expensive, high-end hi-fi systems.

The company's share price shot up 32 percent to 73.50 kroner in afternoon trading in Copenhagen.