2 years after merger, Syneos Health 'exploring a sale': report

Nasdaq
CRO Syneos Health's shares shot up on the news it's looking for a sale, though they are down due to coronavirus fears. (Nasdaq)

It’s been just over two years since INC Research and inVentiv came together in a $7.4 billion merger and rebranded as Syneos Health. Now, it’s looking for a sale.

That’s according to “people familiar with the matter” speaking anonymously to Reuters this week, who add that the North Carolina CRO is working with investment bank Centerview Partners “on soliciting acquisition offers from other companies and private equity firms.”

RELATED: INC Research/inVentiv Health rebrands as Syneos Health

The CRO had been trading down—like almost every public company due to the coronavirus volatility—but was up by $10 a share on the Reuters report March 9, although it was back in the red in trading Tuesday. Its market cap is around $6.4 billion.

The CRO was not commenting on the story.

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