NATI - NI rises after having initiated review of strategic options including potential sale

• NI ( NASDAQ: NATI ) rose ~15% after its board was said to have initiated a review and evaluation of strategic options, which includes a potential sale.
• The maker of automated test equipment and virtual instrumental software was speculated to be a takeover target in May 2022, with an interested party based in Europe.
• The company now said it is considering a full range of available strategic, business and financial alternatives, including solicitation of interest from potential acquirors and other transaction partners, some of whom have already made an approach.
• Additionally, the company said the board has approved the adoption of a limited duration shareholder rights plan and authorized a dividend distribution of one right for each outstanding share.
• The rights plan will expire on Jan. 12, 2024.
• Source: Press Release

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