Cadence Design Jumps on Buyout Buzz
The company has reportedly been in talks with private equity.
Shares of
Cadence Design Systems
(CDNS) - Get Report
rose in early Monday trading on a report that the company is in talks with buyout investors.
The stock was trading up $1.67, or 7.3%, at $24.57, on strong volume of 6.5 million shares.
The company reportedly is in discussions with Kohlberg Kravis Roberts and Blackstone Group, according to a story published by the online edition of
The New York Times
.
Cadence could not be reached for comment. A spokesperson for KKR did not return a phone call.
