Extreme Networks (EXTR) shares are on the rise this morning after the company announced plans to buy back $100 million of its common stock at a price between $3.30 to $3.70 a share in a “modified Dutch auction” tender offer that will start today and expire Sept. 12.
A quick update on my post yesterday regarding rumors that Extreme Networks (EXTR) might be acquired by privately held Enterasys.
In a research note yesterday, JMP Securities analyst Samuel Wilson wrote that “sources suggested to us that at least one interest party has stepped forward to begin serious discussions with the company.”
Is something going on with Extreme Networks (EXTR)?
The networking hardware company’s shares today have jumped 18 cents, or 5.9%, to $3.25; volume totals 2.56 million shares, about triple the daily average.
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