Convergys (CVG) May Draw Buyout Interest

Convergys Corporation (CVG) pops to session highs on increased volume. Strength being attributed to a Reuters article that states the company, which was spun off from Cincinnati Bell in December 1998, may spark buyout interest.

According to Reuters, potential buyers could include Amdocs Ltd (DOX), SAP AG and Oracle Corp (ORCL).

At last check, CVG was up 26 cents, or 1.82%, to $14.54. Nearly 1.2 million Convergys shares changed hands on Thursday against an average trading volume of 604,000.

No Position

Be the first to comment

Leave a Reply

Your email address will not be published.