Shares in struggling IT consultancy Ciber Inc. dropped sharply Tuesday after the company revealed it has hired a strategic advisor to help it review its options for refinancing, merging or selling all or some of the business.

The advisor is not identified in the Greenwood Village-based company’s filing to the U.S. Securities and Exchange Commission.

“No decision has been made as to whether the company will engage in a transaction resulting from the consideration of strategic alternatives, and there can be no assurance that any transaction will occur or, if undertaken, the terms or timing of such a transaction,” the company said.

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