M*Modal Shares Jump In Pre-Market On Acquisition News
Shares of M*Modal (NASDAQ: MODL) surged more than 8% in pre-market trading after the company agreed to be acquired by One Equity Partners, the private investment arm of JP Morgan Chase & Co (NYSE: JPM), for around $1.1 billion in cash.
The offer price of $14 per share represents an 8.3% premium to M*Modal's closing price on Monday.
The deal is likely to close during the third quarter of 2012.
M*Modal shares jumped 8.04% to $13.97 in pre-market trading.
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