SYNH - Syneos Health jumps on report PE consortium near takeover
2023-05-09 17:55:11 ET
- Syneos Health ( NASDAQ: SYNH ) soared 19% in after hours trading on a report that a private equity consortium is in advanced talks to purchase the drug-research services company.
- Elliott Investment Management, Patient Square and Veritas Capital are in talks for an acquisition of Syneos ( SYNH ), which may be announced as soon as this week, according to a Bloomberg report on Tuesday, which cited people familiar. Syneos has a market cap of ~$4 billion.
- The latest report comes after a Dealreporter item last month that a handful of private equity firms were said to be interested in Syneos ( SYNH ), a contract research organization. The story followed after Reuters reported in February that Syneos started a new effort to sell itself .
- A Barclays analyst in March said Syneos ( SYNH ) may be worth toward t he midpoint of a range of $40-$53 a share in a potential takeover
- Syneos ( SYNH ) is scheduled to report Q1 results on Wednesday before the market opens.
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Syneos Health jumps on report PE consortium near takeover