Envestnet up 1% as Bain said near takeout at close to current market value

Bain Capital is nearing a deal to acquire Envestnet, people familiar with the matter told Reuters’ Milana Vinn. If the negotiations conclude successfully, a deal with the private equity firm could be announced as soon as this week and would value the financial software vendor at close to its current stock price, according to the sources. In afternoon trading following Reuters’ report, shares of Envestnet have risen 79c, or about 1%, to $63.86.