Information Holdings in Play

NYSE small-cap Information Holdings(IHI Quote) was higher early after the publisher confirmed it is reviewing strategic alternatives, including a possible sale.

"The company has reached no definitive conclusion whether it will enter into a sale transaction or not and may consider other alternatives such as a special cash dividend," IHI said in a release. "The company may also choose to take no action at this time. The company does not comment on potential transactions and will have no further disclosure unless and until a reportable transaction occurs."

The shares were recently up $2.33, or 9.7%, to $26.25.

Unidentified bidders have offered IHI $28 a share in a proposed buyout transaction in an auction that is expected to conclude next month, according to a story in The Wall Street Journal.