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