Why Covanta Holding Corporation Stock Popped Today
Shares of New Jersey-based waste management company Covanta Holding (NYSE: CVA) are up 10.4% as of 11 a.m. EDT on rumors of a reported buyout.
As TheFly.com reported this morning, the Dealreporter.com website is citing "four sources familiar with the situation" that say Covanta has retained Bank of America to advise it on a potential sale.
A "handful of financial buyers, including infrastructure funds," are reportedly considering buying Covanta, says Dealreporter, and the bidding is already in "the middle of the second round."
Source Fool.com
