Barnes Group explores strategic alternatives including potential sale – Bloomberg

Investing.com – Barnes Group Inc (NYSE:), a Connecticut-based manufacturer known for its components utilized in military turbine engines, is said to be considering various strategic options, including a potential sale, according to insiders familiar with the matter.

Sources, who wished to remain anonymous due to the confidentiality of the information, revealed that the company is engaging with advisers to seek interest from potential buyers, including private equity firms.

On Wednesday, Barnes Group’s shares experienced a significant leap of up to 9.3%, marking the largest increase since April 18. This surge came in the wake of the news report by Bloomberg. The company’s stock has seen an approximately 25% increase this year, pushing its market value beyond $2 billion.

However, it’s important to note that no final decisions have been made yet, and the company might choose to maintain its public status.

A spokesperson for Barnes Group was not immediately available for comment.