Shares of Booz Allen Hamilton are spiking in after-hours trading.
However, it’s unclear exactly what’s going on.
The move comes after a CNBC tweet: “ALERT: Accenture in talks to buy consulting firm Booz & Company; unclear if Booz & Co. has other suitors – DJ”
According to the Wall Street Journal’s Joann Lublin and Sharon Terlep, “Consulting giant Accenture PLC is in talks to acquire smaller rival Booz & Co., people familiar with the matter said.”
Booz & Co. was spun out of Booz Allen Hamilton via a 2008 private equity deal.
Booz Allen Hamilton saw its shares experience quite a bit of volatility after one of its employees Edward Snowden leaked classified information belonging to the National Security Agency, a client.
“The two companies aren’t connected today,” said Lublin and Terlep regarding Booz & Co. and Booz Allen Hamilton.
It’s possible that some traders got a little trigger happy.
Here’s a look at the late move via MarketWatch.com:
Here’s the Tweet from CNBC:
ALERT: Accenture in talks to buy consulting firm Booz & Company; unclear if Booz & Co. has other suitors – DJ | $ACN
— CNBC (@CNBC) July 30, 2013
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