TBZ surges over 38% in two sessions, extending gains after hitting upper circuit. What's triggering the rally?

Tribhovandas Bhimji Zaveri (TBZ) shares surged 38.9% in two sessions as investors reacted to GRT Jewellers’ proposed acquisition of the jewellery retailer. GRT plans to acquire 74.12% promoter stake at up to Rs 209 per share and launch an open offer for the remaining public stake at Rs 249.61 per share, while the stock climbed to Rs 423 on Wednesday, well above both transaction prices.