SunGard Confirms Buyout Talks
A published report says it's discussing a $10 billion LBO.
SunGard
(SDS) - Get Report
confirmed Monday that it is involved in discussions concerning its possible sale.
SunGard, which develops software for the financial services industry and sells data protection and recovery services, said it authorized its advisers and management to carry out the talks, which might or might not result in a transaction.
SunGard said it won't comment again unless it reaches a definitive agreement.
The
New York Post
reported Monday that SunGard is in talks to be acquired for up to $10 billion by a team of private equity investors that includes Silver Lake Partners, Texas Pacific Group and Thomas H. Lee Partners.
The stock is up $5.06, or 20%, to $30.01 Monday morning.
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