URS Corp. Rumored To Be In Talks Leading To Possible Sale

URS Corp.

shares jumped nearly 5 percent on a rumor that negotiations leading to its possible acquisition were held recently. URS had hired Citigroup and DB Partners to help with a sale, according to the report carried by Reuters. Activist investor Barry Rosenstein's Jana Partners acquired a 9.7 percent stake in URS in February. URS on March 17 agreed with Jana to expand the size of its board and form a "Value Creation Commitee" that would hire an investment bank for a strategic review. URS traded recently at $52.63, up 3.34 percent.