Why Calgon Carbon Corporation Stock Just Soared 62%

Thanks to a well-timed buyout from a Japanese suitor, shares of Calgon Carbon Corporation (NYSE: CCC) are soaring 61.9% as of 11:45 a.m. EDT Thursday.

Thursday morning, Calgon Carbon Corporation announced a deal to sell itself to Japan's Kuraray Co., Ltd., for $21.50 per share. The deal values Calgon Carbon stock at $1.1 billion, and once net debt is factored in, value's the transaction as a whole "in excess of $1.3 billion."

So what happens next?

Source: Fool.com