VERNON HILLS, Ill. (AP) – Shares of CDW Corp. rose Tuesday after a published report said the distributor of hardware, software and technology accessories was in talks to be acquired by a private equity company.
CDW rose $6.54, or 8.6 percent, to $82.10 after The Wall Street Journal reported in its Tuesday editions that the company was negotiating with a group of private equity groups.
The newspaper, citing undisclosed sources familiar with the matter, said Chicago's Madison Dearborn Partners was considered the leading bidder for the Vernon Hills-based company. But the paper said a deal had not been finalized and other bidders could appear.
Messages left with spokesmen for CDW and Madison Dearborn were not immediately returned Tuesday morning.
The 23-year-old company buys computers and related equipment from such manufacturers as Hewlett-Packard Co., IBM Corp. and Apple Computer Inc. and markets them to small and mid-size businesses, governments and school systems, customizing the products and offering other services.
Last year, CDW earned $266.1 million on sales of $6.8 billion. The stock, which has traded as low as $50.28 in the past 52 weeks, topped its previous 52-week high of $79.71.