2023-04-10 10:47:50 ET
- Syneos Health ( NASDAQ: SYNH ) jumped 14% on a report that a handful of private equity firms are said to be interested in the contract research organization.
- The sales process, which is in its second round, has garnered the interest of at least four parties, according to a Dealreporter item.
- One group interested in Syneos ( SYNH ) includes Advent International, Thomas H. Lee and Centerbridge, according to the report. Other potential bidders include KKR ( KKR ) and Apollo Global ( APO ), which are bidding separately. Veritas Capital and Elliott Management are partnered for another bidding group.
- The Dealreporter item comes after Reuters reported in February that Syneos ( SYNH ) started a new effort to sell itself . Syneos hired Bank of America and Centerview as its financial advisors to explore a new set of talks with potential buyers, including industry peers and financial buyers.
- A Barclays analyst last month said Syneos ( SYNH ) may be worth toward t he midpoint of a range of $40-$53 a share in a potential takeover
For further details see:
Syneos Health gains on report of private equity interest