Why Abcam Shares Are Soaring Today

Abcam PLC ABCM announced that its Board of Directors unanimously decided to initiate a process to explore strategic alternatives.

ABCM stated that the process will begin immediately and will evaluate a wide variety of options, including sale of the company.

Additionally, the company pointed out that it has received strategic queries from a number of parties in recent weeks.

Also Read: Abcam Downgrade: Analyst Trims Expectations Amid Activist Investor Engagement and Potential Bid Anticipation

Abcam commented: "Our Board is fully aligned in its belief that the best way to maximize value for shareholders is to comprehensively review the Company's strategic alternatives, including a potential sale of Abcam. We will pursue the pathway that maximizes value for our shareholders and also ensures successful outcomes for our customers and employees."

Founded in 1998 and headquartered in Cambridge, U.K., the company supplies life science research tools. 

Price Action: ABCM shares are trading higher by 11.93% at $22.71 on the last check Friday.