Evotec rallies after Bloomberg says Triton weighing takeover bid

Triton Partners, is considering a takeover bid Evotec (EVO), Eyk Henning of Bloomberg reported earlier, citing people familiar with the matter. Triton is among several investment firms that have been studying a deal for Evotec in recent months, sources told Bloomberg. Any acquisition of Evotec by a private equity firm could be complicated by the fact the company is projected to report negative free cash flow this year and next, the people added. Last week, Triton raised its stake in Evotec to 9.99%. Shares of Evotec are up 17%, or 71c, to $4.84 in midday trading.