Pitney Bowes has launched the second phase of its strategic review, with a newly formed board committee evaluating a full sale of the company alongside acquisitions, divestitures, and partnerships. The review is led by independent directors with financial advisers BofA Securities and Goldman Sachs, and legal adviser Sullivan & Cromwell. The company highlighted improved balance sheet strength, cash flow, and earnings under CEO Kurt Wolf, and said it is operating from a position of strength. No timeline was given for the review, and Pitney Bowes cautioned that no transaction is assured. Shares rose about 1% in premarket trading, adding to a roughly 70% year-to-date gain through Monday's close.
Pitney Bowes IncCompany launches strategic review including potential sale, with improved financials and adviser support, boosting shareholder value prospects.