Abcam PLC ABCM announced that its Board of Directors unanimously decided to initiate a process to explore strategic alternatives.
ABCM stated that the process will begin immediately and will evaluate a wide variety of options, including sale of the company.
Additionally, the company pointed out that it has received strategic queries from a number of parties in recent weeks.
Abcam commented: "Our Board is fully aligned in its belief that the best way to maximize value for shareholders is to comprehensively review the Company's strategic alternatives, including a potential sale of Abcam. We will pursue the pathway that maximizes value for our shareholders and also ensures successful outcomes for our customers and employees."
Founded in 1998 and headquartered in Cambridge, U.K., the company supplies life science research tools.
Price Action: ABCM shares are trading higher by 11.93% at $22.71 on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
