Spok Holdings gains on considering sale

Acacia Research

03/09/2021 14:41

** Shares of healthcare communications provider  SPOK.O 
rise 5.5% to $10.75
    ** Spok says it started review of its strategic
alternatives, including sale, after getting several "indications
of interest" in buyout  urn:newsml:reuters.com:*:nBw4nvYCla
    ** Acacia Research  ACTG.O , which invests in tech and life
sciences businesses, made public earlier this week its offer to
buy SPOK for $10.75/shr  urn:newsml:reuters.com:*:nL4N2Q22RA
    ** Spok also adopts short-term shareholder rights plan that
will trigger if a person or group buys 10% of its outstanding
stock or 20% for passive institutional investors
    ** Spok notes Acacia Research and its partner Starboard
Value have rapidly accumulated over 5% of its outstanding stock
    ** Through Thursday's close, SPOK down about 8% this year

 (Reporting by Praveen Paramasivam)
 ((Praveen.Paramasivam@thomsonreuters.com;))