Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of National Financial Partners jumped as much as 17% today after the company announcing that it may sell itself.
So what: The high-end financial advisor said it has received "indications of interest" from some private equity firms, though it was unsure whether it would reach a deal. The company is working with Bank of America on the potential sale.
Now what:The news seems to be mostly speculative at this point, and without any clear buyout offer, today's jump may wipe out whatever premium investors would have gotten on the sale. Today's development comes as CEO Jessica Bibliowicz plans to step down and as the stock price approaches a five-year high. Considering today's jump, the high-water mark, and the chance that no deal will take place, this seems like a good time to sell.
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The article Why National Financial Partners Shares Soared originally appeared on Fool.com.
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