Why Are Bottomline Shares Trading Higher Today?

Bottomline Technologies Inc EPAY is working with Deutsche Bank to explore a sale and consider options, Bloomberg reports.
The Portsmouth, New Hampshire-based company, manages payments and invoices for businesses.
In October, Bottomline added three new board members as part of an agreement with shareholders Clearfield Capital Management and Sachem Head Capital Management. It also formed a committee to evaluate and recommend its market position and strategy.
Bottomline’s shares rose as much as 9.6% after the close of regular trading. They had closed Thursday down 1.1% at $44.70 in New York, giving the company a market value of about $2 billion.
Price Action: EPAY shares traded higher by 12.20% at $50.13 in the market session on the last check Friday.

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