Convergys's stock soars after WSJ report of buyout talks
Shares of Convergys Corp. spiked up 12% toward a six-month high in afternoon trade Friday, after The Wall Street Journal reported that the call-center operator was in talks with several potential buyers. Citing people familiar with the matter, the WSJ report said the sales process was kicked off after Chief Executive Andrea Ayers decided in January to leave the company. Convergys, which currently has a market capitalization of about $2.3 billion, is currently deep into discussions with a number of parties, the WSJ report said, with potential buyers including both industry rivals and private-equity firms. The stock has gained 6.8% year to date, while the S&P 500 has tacked on 2.0%.