Why Itamar Medical Stock Is Skyrocketing Today
Shares of Itamar Medical (NASDAQ: ITMR) were skyrocketing 44.5% as of 10:48 a.m. EDT on Monday. The huge gain came after Zoll Medical, which is owned by Japanese materials science company Asahi Kasei (OTC: AHKSY), announced plans to acquire Itamar for $538 million.
The price tag of Zoll Medical's proposed acquisition reflects a premium of 50% over Itamar's share price as of the market close on Friday. Today's big move for the healthcare stock is only slightly lower than that level.
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Source Fool.com
