(Reuters) - Contract drug research firm Parexel International Corp (PRXL.O) is exploring a sale, sources familiar with the matter told Reuters on Monday.
Boston-based Parexel had a market value of about $3.51 billion as of Friday’s close. The company’s stock rose as much as 10.2 percent to $75.87 in morning trading.
The Wall Street Journal first reported about the talks, saying Parexel is working with investment bankers to sound out potential buyers, including private-equity firms, citing sources familiar with the matter. (on.wsj.com/2pdsziP)
The company did not immediately respond to a request for comment.
Reporting by Carl O'Donnell in New York, additional reporting by Akankshita Mukhopadhyay in Bengaluru; Editing by Shounak Dasgupta