Skip to main content

Market Overview

Progress Software Spikes After Reuters Reports Company Exploring A Sale

Share:

Shares of Progress Software Corporation (NASDAQ: PRGS), a global software company that developments business applications, were trading higher by nearly 9 percent mid-Thursday afternoon.

Reuters reported that Progress Software is considering a sale of itself as part of an exploration of strategic alternatives.

Reuters, citing "sources" that do not want to be identified, stated that Progress Software is working with an investment bank on a limited auction process that was made available to a small number of buyout firms.

Finally, the publication stated that a leveraged buyout of Progress Software would be "challenging" given the "choppy" debt markets, and there is no certainty that negotiations with a potential buyer will result in a deal being finalized.

 

Related Articles (PRGS)

View Comments and Join the Discussion!

Posted-In: Leveraged Buyout progress software ReutersNews Rumors Movers

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com