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Update 3:55pm on Sept. 29: Adds shares, updates with new details.
Private equity firm Bain is evaluating a potential takeover of car insurance software vendor CCC Intelligent Solutions (NASDAQ:CCCS). CCC rose 7.6% on Friday.
Bain is one of several suitors that have expressed interest in the CCC Intelligent (CCCS), which is backed by PE firm Advent International, according to a Bloomberg report on Thursday, which cited familiar people familiar with the matter.
TPG (TPG) is also evaluating a deal for CCC and potentially may team up with Bain for an offer, according to an update of the Bloomberg item on Friday.
No final decision has been made and Bain could decide against its pursuit of the Chicago-based company.
The report comes after CCC (CCCS) shares rose 4% last Monday after a Reuters report that Advent, which has a 56% stake in the company, was exploring a sale of the company. CCC has a market cap of $7.7 billion.
Advent agreed to take CCC public through a SPAC deal in February 2021.
