May 8, 2017 / 6:21 PM / 5 months ago

Contract research firm Parexel International explores sale: sources

A view of the U.S. drug research company, Parexel International Corp office in Uxbridge, north London, March 15, 2006. [Two men were critically ill in Northwick Park hospital on Wednesday and four others serious in intensive care after suffering violent reactions to a new drug they took as part of a clinical trial.]

(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

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