Wintrust Business Minute: Chicago-based Sprout Social apparently not going private

Wintrust Business Lunch

Steve Grzanich has the business news of the day with the Wintrust Business Minute.

Chicago-based software company Sprout Social is apparently not going private. This follows a report that the company was in talks with private-equity firms about a buy out. Reuters reported the company had formed a special committee to consider a deal and hired an investment banker as adviser. But in a securities filing, the company says there is no process in place to sell or take the company private. Sprout’s share price rose about 6% after the Reuters report but fell after company’s denial. Shares dropped sharply earlier this month after the company lowered its revenue forecast for the year.

Also, two new developments in Chicago’s Fulton Market would bring 1,800 apartments to that neighborhood. Listen for more below:

https://serve.castfire.com/audio/4864321/4864321_2024-05-21-214021.64kmono.mp3

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