Syneos Health jumps following report on new effort to sell itself

Shares of Syneos Health (SYNH) are trading higher on Monday morning following a report by Reuters’ David Carnevali and Anirban Sen saying the company is making a new effort to sell itself after a reduced backlog of contracts for providing clinical research to drug developers led to a 52% plunge in its shares over the past year, according to people familiar with the matter. Syneos has hired Bank of America Corp (BAC) in addition to Centerview as financial adviser as it embarks on a new round of talks with potential acquirers that may include industry peers and private equity firms, the sources said. Syneos’ stock has gained over 7% to $40.54 in Monday morning trading following the report.Reference Link