Shares of Affiliated Computer, Inc. (NYSE: ACS) rose on Monday, a day after news that the company was open to additional buyout bids.
On Sunday, Affiliated said an exclusivity agreement with company Chairman Darwin Deason and Cerberus Capital Management LP had been mutually suspended, raising the possibility of higher bids.
Shares of Affiliated rose $1.53, or 2.63 percent at the end of normal trading hours, reaching $59.79.
Deason had teamed with the private equity firm, in March to buy Affiliated for an initial offer of $59.25 a share. The deal was later raised to $62 with an exclusivity clause.
The potential for a higher bid than the currently outstanding $62 offer from Mr. Deason and Cerberus cannot be discounted, Julio Quinteros of Goldman Sachs told clients in a note on Monday.
Affiliated provides outsourcing and information technology services to commercial and government clients.