Akamai gains 6% on takeover speculation

Jul. 21, 2022 11:13 AM ETAkamai Technologies, Inc. (AKAM)By: Joshua Fineman, SA News Editor3 Comments

Akamai Technologies headquarters in Silicon Valley

Sundry Photography/iStock Editorial via Getty Images

  • Akamai Technologies (NASDAQ:AKAM) jumped 6% on speculation of takeover interest for the cloud services and content delivery company.
  • An unidentified private equity firm is said to be in talks to try to secure financing for a potential offer for Akamai (AKAM), according to a StreetInsider report, which cited a source.
  • The report claims that recent market speculation has suggested activist Elliott Management may be interested.
  • The StreetInsider item comes after Betaville in May said there's speculation that the Akamai (AKAM) may be seeing interest from a mystery buyer, according to an "uncooked" alert. The identity of the potential bidder couldn't be learned. Akamai has a market cap of about $14 billion.
  • Akamai (AKAM) short interest is 7.5%.
  • AKAM is set to report Q2 results on Aug. 9.

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