Courtesy of Benzinga.
Shares of Cleco (NYSE: CNL) are up more than four percent in Monday's pre-market following the company's confirmation of third party indications of interest.
In Monday's press release, Cleco announced that "it has recently received indications of interest from third parties with respect to a strategic transaction. Cleco has retained Goldman Sachs & Co. and Tudor, Pickering, Holt & Co. as its financial advisors, and Locke Lord LLP as its legal advisor, to assist the Board of Directors in reviewing and evaluating any proposals and comparing any such proposals to Cleco`s standalone strategic plan."
The company added that independent Board of Directors members have also hired Hunton & Williams LLP for legal counsel.
Cleco will work with its advisors to review the indications of interest and opportunities with respect to the company's long-term strategic plan.
No decision has currently been reached or timeline been set by the company.
Shares of Cleco closed at $57.60 on Friday. Shares jumped as much as 4.17 percent to $60.00 in Monday's pre-market.
Posted-In: News Legal Management
