Why Navigant Consulting Stock Popped Today

Shares of Navigant Consulting (NYSE: NCI) jumped 16.7% on Friday, after the company said it would be acquired. 

Navigant agreed to be acquired by Guidehouse, a management consulting company backed by New York-based private equity firm Veritas Capital, for $1.1 billion.

"Following a review of strategic alternatives, including soliciting offers from a diverse group of potential strategic and financial partners, Navigant's Board unanimously agreed that a sale to Guidehouse is in the best interest of Navigant shareholders, delivering immediate and certain value at an attractive premium," Navigant Chairman and CEO Julie Howard said in a press release.

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