Why Shares of Presidio Surged Today

Shares of Presidio (NASDAQ: PSDO) soared on Wednesday after the IT solutions provider agreed to be acquired in an all-cash transaction. The stock was up about 21.5% at 12:30 p.m. EDT.

Presidio announced on Wednesday that it had entered a definitive agreement to be acquired by funds advised by investment firm BC Partners. The deal is valued at $2.1 billion, including Presidio's net debt.

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Source Fool.com