Accenture was off to a relatively normal day in the market today. That is until minutes ago, when the stock spiked as the result of a potential takeover. As soon as the stock spiked, our partners at Trade Ideas alerted us to the movement, prompting us to do some digging. At the moment (11:11), ACN is trading at $121.08 per share after a gain of $1.69 per share (1.42%) thus far today.
ORCL Is Interested In Taking Over ACN
As soon as we received the alert, the CNA Finance team started digging and found out that the reason for the gains has to do with a potential acquisition. In fact, a story just broke stating that Oracle has hired global specialists to explore the possibility of buying the multi-billion dollar Accenture.
According to the reports, Oracle hired a team of consultants to explore synergies that could be created if the company did, indeed, acquire ACN. However, don’t look for anything to happen quickly. According to the reports, the work is in its early stages. In fact, it was said that “If buying Accenture was a 100 metre race, Oracle is at the 10 to 10 metre stage now.”
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on both ACN and ORCL. In particular, we’ll be following the process with regard to the potential acquisition. After all, this could mean a massive return of value for shareholders on both sides. We’ll continue to follow the story closely and bring you the news as it breaks!
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