Parkway Properties Explores Strategic Options Incl. Sale : Bloomberg

(RTTNews) - Parkway Properties Inc. (PKY) is in the early stages of exploring strategic options including a sale, Bloomberg reported citing people familiar with the matter.

Parkway Properties currently has market value of about $2 billion.

The Orlando, Florida-based real estate investment trust, which owns office properties throughout the southern U.S., is working with Bank of America Corp.'s Merrill Lynch and Wells Fargo & Co. Prospective buyers haven't yet been invited to make offers.

It was not clear if a sale of the business would attract interest from other REITs or a buyout firm, the report said.

PKY closed Wednesday's regular trading at $17.56, up $0.12 or 0.69%. In after-hours, the share further gained $0.94 or 5.35%.