PAREXEL International Corporation (NASDAQ: PRXL) wasn’t off to the best of days in the market today. However, that all changed minutes ago as news came out that the company is exploring a sale. Of course, this led to excitement among investors, causing a spike in value. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (1:19), PRXL is trading at $74.27 per share after a gain of $5.41 per share (7.68%) thus far today.
PRXL Explores Sale
As mentioned above, PAREXEL International is having an incredibly strong time in the market at the moment after news broke that the company is in the process of exploring a sale. As of Monday afternoon, the company was worth about $3.5 billion. However, The Wall Street Journal reports that the company could fetch upwards of $4 billion in a takeover.
At the moment, it’s important to remember that we are in the beginning phases here. The company is essentially considering a sale, but has not yet decided to put itself up for sale. Nonetheless, if a sale did happen, it would result in an immediate return of value for investors.
Stop wasting your time! Find winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on PRXL. In particular, we’re interested in following the sale exploration, as a sale would likely be a great thing for all involved. We’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!