UPDATE: Power One (PWER) Said to Tap Advisor in Possible Sale; Shares Volatile

September 6, 2012 11:08 AM EDT
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(Updated - September 6, 2012 11:17 AM EDT)

Power-One (Nasdaq: PWER) shares moved higher on the session following a blog post from FT Alphaville that the Company has tapped Goldman Sachs to finda buyer for the business.

FT Alphaville noted that Power-One founders may have initially turned down two offers for the company last year. The approaches were said to have been made by General Electric (NYSE: GE) and Schneider Electric SA.

Other potential buyers might include Panasonic (NYSE: PC) and China's GCL-Poly Energy, says FT Alphaville.

Power-One hasn't issued a comment on the chatter. The stock is now in negative territory after ramping over 9 percent higher on the report.

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