Jacobs Engineering Rallies On Takeover Rumors
Apr 9, 2010 Company News, Mergers & Acquisition, Stock to watch
The stock of Jacobs Engineering Group Inc (JEC), which provides technical, professional, and construction services worldwide, rose $3.33 to $47.61, a 7.22% gain, on market chatter that the company is a takeover target, with the supposed interest coming from one or more private equity firm. TPG and Blackstone are being bandied about as the interested parties.
The shares, which have traded an average of 1.8 million shares a day over the past three months, saw volume jump to 9.7 million.
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Tags: acquisition, blackstone, jacobs engineering, merger, private equity, tpg
