Flotek Industries, Inc. (NYSE:FTK) shares jumped first thing Wednesday, after the company announced it received an unsolicited indication of interest for a potential transaction for all or part of the company.
Monday’s initial news release about the possible transaction said, “The Company has not set a timetable for the conclusion of its evaluation of the offer, and it does not intend to comment further unless and until the Board has approved a specific course of action or the Company has otherwise determined that further disclosure is appropriate or required by law.”
Flotek creates solutions to reduce the environmental impact of energy on air, water, land and people. A technology-driven, specialty green chemistry and data company, Flotek helps customers across industrial, commercial, and consumer markets improve their Environmental, Social, and Governance performance.
Flotek’s Chemistry Technologies segment develops, manufactures, packages, distributes. delivers, and markets high-quality cleaning, disinfecting and sanitizing products for commercial, governmental and personal consumer use.
Additionally, Flotek empowers the energy industry to maximize tile value of their hydrocarbon streams and improve return on invested capital through its real-time data platforms and green chemistry technologies. Flotek serves downstream, midstream, and upstream customers, both domestic and international.
FTK opened Wednesday higher by six cents, or 7.8%, to 85 cents.