News Column

Tibco reviewing strategic, financial alternatives

September 3, 2014

PALO ALTO, Calif. (AP) Tibco said Wednesday that its board is studying potential strategic and financial alternatives for the business software maker.

Its shares rose 9.7 percent percent to $23.09 in after-hours trading.

Tibco Software Inc. said three of its independent directors formed a special committee for the review process, which began on Aug. 16.

The disclosure comes amid published reports that the Palo Alto, California-based company has begun to reach out to potential acquirers.

Typically, when a company says it is exploring strategic alternatives, it means they are considering a possible sale or acquisition.

Tibco shares ended regular trading Wednesday down 16 cents at $21.04. The stock has dropped 6.4 percent this year.

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Source: Associated Press

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