Blackboard hires Barclays as financial adviser
Education software company Blackboard Inc. said Tuesday that it has retained Barclays Capital as a financial adviser to consult in takeover talks.
The company said it has receiving unsolicited, non-binding proposals to acquire the company but provided no details on the potential buyer or terms of the offers.
Blackboard said it is evaluating the offers as well as strategic alternatives.
Shares of the company rose $11.57, or more than 31 percent, to $48.73 in midday trading. Earlier the stock traded at a 52-week high of $50.10.