Akamai (AKAM) shares are higher for the second-straight day on takeover speculation.
Bloomberg reported that activity in AKAM options were 3-4x the daily average yesterday; Reuters also picked up on the increased trade in AKAM options.
Standard & Poor’s analyst Scott Kessler this morning took note of the activity, asserting that the content delivery network company has “one of the more attractive collections of businesses and assets in the Internet segment, with strong growth prospects and financials.” But he also notes that the stock is not cheap.
And indeed, given the current market cap of $8.5 billion, a bid at the 60% premium Intel is paying for McAfee would put the price tag of the company at about $13.6 billion. Just who might be willing (and able) to pay that kind of price for Akamai isn’t exactly clear.
AKAM, which yesterday rose 56 cents, or 1.3%, today is up another $1.81, or 4%, to $46.82.
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