Citrix Systems, Inc. (NASDAQ: CTXS) is off to an incredibly strong start in the pre-market at the moment, and for good reason. The company recently started working with Goldman Sachs to put itself up for sale. Today, news broke that there are multiple bidders fighting it out to buy the company. Of course, this led to excitement among investors, pushing the stock upward and prompting our partners at Trade Ideas to alert us to the gains. At the moment (9:23), CTXS is trading at $88.23 per share after a gain of $6.94 per share (8.54%) thus far today.
CTXS Gains On Multiple Bids For A Takeover
As mentioned above, Citrix is having an incredibly strong start in the pre-market hours this morning as news surfaces with regard to the company’s plans to sell itself. In fact, the news is that three big private equity firms are among the bidders that are looking to take the cloud-services company over.
According to various reports, Bain Capital, Carlyle Group LP, and Thoma Bravo are just a few of the bidders that are looking to take the company over. The firms have submitted their bids, which came in last week. There is also leaked information that the company has attracted interest from a strategic suitor. Currently, names of corporate bidders are not available.
Nonetheless, it’s important to keep in mind that no final decisions have been made yet – not even the decision to go after the sale. While CTRX is combing interest, the company could still chose not to go through with the sale.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on CTRX. In particular, we’re interested in following the company to see if it does accept any of the takeover offers that have been made. We’ll continue to follow the story closely and bring the news to you as it breaks.
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