BMC Software (BMC +4.5%) spikes higher after the WSJ reports the company has hired BofA/Merrill...

|About: BMC Software, Inc. (BMC)|By:, SA News Editor

BMC Software (BMC +4.5%) spikes higher after the WSJ reports the company has hired BofA/Merrill to help find a buyer. The i-bank is said to be reaching out to software companies and P-E firms to gauge interest. BMC has already rallied this year on M&A hopes, as activist investor Elliott Associates prods the company to put itself on sale. Susquehanna gives BMC, which currently trades at $43, a sum-of-the-parts valuation of $54.