Why Intersect ENT Stock Is Skyrocketing Today
Shares of Intersect ENT (NASDAQ: XENT) were skyrocketing 29.6% higher as of 11:13 a.m. EDT on Wednesday. The big jump came after Bloomberg reported that medical device giant Medtronic (NYSE: MDT) made an offer to acquire Intersect.
No terms of the potential acquisition were disclosed in the Bloomberg article. However, for any deal to be approved by Intersect's board and shareholders, Medtronic would likely have to offer a significant premium to Intersect's recent trading price.
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Source Fool.com