Why Criteo Stock Was on Fire This Week
Yahoo Finance ·
French adtech company Criteo ( CRTO 1.12% ) was the subject of some fairly robust takeover speculation this week, and opportunistic investors piled into it on the hopes it would sell for a substantial premium. The in-demand shares were rising by almost 20% week-to-date as of early Friday morning, according to data compiled by S&P Global Market Intelligence . That kicked off Monday afternoon, when Bloomberg published an article stating that investment firms Vista Equity Partners and Quinti Capital Partners were trying to acquire Criteo. Citing unnamed "people familiar with the matter," the news agency wrote that the two firms recently submitted a buyout offer valuing Criteo at more than 50% of its typical closing share price over the past few weeks. Those sources added that Criteo management was still mulling over how to respond to the bid. Those people added that there is no guarantee a deal will be consummated. Bloomberg pointed out that the niche tech company has been approached by would-be suitors before.
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