Why Barracuda Networks Inc. Stock Popped Today
Shares of Barracuda Networks Inc. (NYSE: CUDA) were up 16.5% as of 2 p.m. EST Monday after the networking products specialist agreed to be acquired by private equity firm Thoma Bravo, LLC, in a "going-private" deal worth $1.6 billion.
More specifically, Thoma Bravo will pay Barracuda Networks investors $27.55 per share in cash for each common share of Barracuda Networks they hold. That's a 16.2% premium to Friday's closing price, and a 22.5% premium to Barracuda's 10-day average stock price.
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Source: Fool.com