SBA Communications Sees 18.9% Surge on Potential Acquisition Interest

SBA Communications (SBAC) surged 18.93% to $204.04 after Bloomberg reported that the company received a preliminary takeover interest from large infrastructure funds and is evaluating the offer. SBA Communications is the largest independent wireless communications infrastructure company in the US, with last year's attributable net income growing 40.6% to $1.05 billion. This year, the company targets total revenues of $2.8 billion to $2.86 billion and adjusted EBITDA of $1.9 billion to $1.93 billion.