Syneos Health eyes sale of company as contract backlog shrinks

Shares of Syneos Health Inc rose 13% after Reuters exclusively reported that the company is making a new effort to sell itself. The effort comes in the wake of a reduced backlog of contracts for providing clinical research to drug developers that led to a plunge in the value of its shares over the past year. Syneos has hired Bank of America Corp and Centerview Partners LLC for financial advice as it embarks on a new round of talks with potential acquirers that may include industry peers and private equity firms.