RBBN - Ribbon Communications jumps on report of takeover interest

Ribbon Communications (NASDAQ:RBBN) rose 11% after a report that the company said that's received a lot of inbound interest as the stock price has neared all-time lows. Ribbon (RBBN) has been "receiving a lot of inbounds" and "talking to a lot of people," CEO Bruce McClelland told Dealreporter on the sidelines of a B. Riley conference in Beverly Hills, California on May 27. The CEO told the publication that the stock's recent weakness has made the company an acquisition target.  Ribbon (RBBN) has a market cap of ~$420 million. Ribbon (RBBN) shares had dropped 67% over the past year through Tuesday. Ribbon (RBBN) reported Q1 results in late April.

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Ribbon Communications jumps on report of takeover interest