Shares of Ipsco Inc.(NYSE: IPS), the second largest U.S. steel pipe maker for energy explorers, confirmed on Thursday that it is currently in discussions that could lead to a potential acquisition of the company.

Commenting on market rumors and the recent appreciation of its stock, the company added that there could be no assurance that a transaction could take place, or as to the timing, structure or terms of such a deal.

Among the suitors for the firm is Russia’s Evraz Group SA, according to the Globe and Mail. The firm approached Ipsco about two months ago, prompting the board to hire Goldman Sachs Group, Inc. (NYSE: GS) as an adviser to set up a wider auction, the paper said citing people familiar with the situation.

Shares of the Lisle, Ill.-based firm jumped on the news, Shares of the firm rose $15.06, or 11.5 percent, to close at $145.96 on the New York Stock Exchange.