Mercury Systems Rumored To Be Up For Auction; Shares Spike 15%

Shares of Mercury Systems MRCY have spiked 15 percent following a rumor that the company is up for auction in the $500 million range. Dana Mattioli of the Wall Street Journal broke the story at 2:03pm EDT via Twitter:

Big Data & Aerospace Supplier Mercury Systems Inc. Hits the Auction Block. Company could fetch $500 million. Scoop w/ @danacimilluca

— Dana Mattioli (@DanaMattioli) March 18, 2014

Interestingly, the stock was halted at 2:00:37 p.m. on a circuit breaker ahead of the tweet. Upon resumption, shares surged 8.7 percent and held its gains before continuing upwards to a high of $13.05. Shares are currently trading at $13.01.