Shares of Syneos Health Inc rose 13% after Reuters exclusively reported that the company is making a new effort to sell itself. The effort comes in the wake of a reduced backlog of contracts for providing clinical research to drug developers that led to a plunge in the value of its shares over the past year. Syneos has hired Bank of America Corp and Centerview Partners LLC for financial advice as it embarks on a new round of talks with potential acquirers that may include industry peers and private equity firms.
Syneos Health eyes sale of company as contract backlog shrinks
27 February 2023, 4:11 pm 1 minute
Syneos shares rose 13% on the news in morning trade to $43.35 a share at the time of reporting.
Topics of Interest: DealsHealth
Type: Reuters Best
Sectors: Business & FinancePharmaceuticals & Healthcare
Countries: United States
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
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