E2open Parent Holdings, Inc. ( ETWO ) shares are trading higher on Thursday after reports that Australia’s WiseTech Global is considering purchasing the company.

What To Know: According to SeekingAlpha, WiseTech is considering acquiring the supply chain software company for as much as A$3.5 billion ($2.2 billion). The deal is expected to be funded with debt.

WiseTech said in a statement, “Discussions are indicative and there is no certainty that a transaction will result and, if a transaction does result, when or on what terms such a transaction may occur.”

Several banks, including Bank of America, Gresham, Macquarie and Rothschild are involved as advisors.

See Also: Carrier Global Reports Q1 Earnings, Raises FY25 Outlook, Shares Move Higher

ETWO Price Action: At the time of writing, E2open shares are trading 26.9% higher at $2.49, according to data from Benzinga Pro.

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