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Strategies & Market Trends : Speculating in Takeover Targets

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From: richardred	9/8/2019 9:28:19 PM
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Carbonite Shares Spike on Report of Takeover Interest in Data-Security Provider The Boston company hires a financial adviser after receiving takeover interest, Bloomberg reports. Tony Owusu Sep 6, 2019 3:11 PM EDT TheStreet Shares of data-protection company Carbonite ( CARB - Get Report) are rising Friday after Bloomberg reported that the company was mulling a sale after receiving takeover interest. The Boston company hired a financial adviser, as it has drawn interest from private equity firms. sources told Bloomberg. Late in August, Carbonite's share price fell to half its level at the start of the year. The company in July cut its full-year revenue forecast and said Chief Executive Mohamad Ali was stepping down to become CEO of privately held International Data Group. Carbonite shares are up 21% to $15.65 Friday. thestreet.com

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