, a marketing services company, said Thursday that it had hired
Deutsche Bank Alex. Brown
to evaluate "strategic alternatives to maximize shareholder value."
The announcement, interpreted as a preliminary move to sell the Boston-based company, sent the stock surging 3 5/8, or 23%, to 19 7/16, capping a recent run-up in the share price. (Snyder ended up 3 3/16, or 20%, to 19.)
Snyder did not elaborate on its terse statement.
reported that Snyder decided to hire the investment bank after it received a takeover offer from an undisclosed agency group, valuing the company's shares in the mid $20s.
Snyder provides advertising, marketing and public relations services through its subsidiaries, which include
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