The Advisory Board Company (NASDAQ: ABCO) is currently halted. This particular halt is a news pending halt, which means that whatever the reason for the halt is, we’re going to hear news about it relatively soon. Before we get into the speculation here, we’d like to give a quick thank you to our friends at Trade Ideas for being the first to alert us to the halt. At the time of the halt, the stock was trading at $49.85 per share after a loss of $1.00 per share or 1.97% thus far today.
ABCO Speculated Buyout
As mentioned above, The Advisory Board Company is currently in the midst of a news pending halt. This means that at some point, most likely soon, news will break surrounding the company before the stock resumes trading in the market. At the moment, there’s speculation all over message boards online that the company will be taken over. However, this is nothing more than a rumor at the moment. There is no information available suggesting that the company will indeed be taken over.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on ABCO. In particular, we’re interested in following the story surrounding the halt and excited to see whether or not this halt is associated with a takeover. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Update: ABCO has resumed and is trading upward. The company will be split and sold for a total of approximately $2.58 billion.
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