Investing.com — Triumph Group jumped late Thursday as the company is exploring strategic options, including a potential sale of the company, Bloomberg reported, citing unnamed sourced.
Triumph Group Inc (NYSE:) gained 25% in recent trading following the news.
The aircraft components maker, which has a market capitalization of $851 million, has enlisted a financial advisor to gauge interest from both strategic buyers and private equity firms, the sources told Bloomberg.
The company has endured a turbulent year so far, with shares down by more than third year to date, as its order book has been hurt by slowing Boeing (NYSE:) 737 Max shipments.
A representative for Triumph declined to comment on the potential sale when contacted by Bloomberg.
The sources cautioned that the deliberations are still in early stages, and Triumph could ultimately decide to remain independent.
