Envestnet weighs options after getting takeover interest

Envestnet weighs options after getting takeover interest

Bloomberg: Envestnet Inc, a fintech company whose chief executive officer died in a car accident 2 1/2 years ago, is exploring options after receiving takeover interest, according to people familiar with the matter.

The Chicago-based company has recently been approached by at least one private equity firm interested in acquiring it, said the people, who asked to not be identified because the matter isn’t public. While the company is evaluating the interest, no transaction is imminent, one of the people said.

Envestnet fell 1.2% to $65.24 at 12:30 p.m. in New York on Tuesday, giving the company a market value of about $3.6 billion. The stock has fallen 18% in the past year.

A representative for Envestnet declined to comment.