Shares of Australia’s Myer Holdings Ltd jumped 8.8 percent after its largest shareholder Premier Investments Ltd, chaired by billionaire Solomon Lew, asked Myer for a list of its owners, fuelling speculation of a takeover offer.

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Premier Investment said on Wednesday that it would “consider writing to Myer’s members in relation to any resolutions proposed at Myer’s AGM this year.”

Investors interpreted the move as a push for board representation, and a possible precursor to a full takeover of the retailer.

Myer shares rose as much as 8.8 percent to A$0.555, near a two-week high, on Wednesday.