Why Vocera Communications Stock Was on Fire Today

Vocera Communications (NYSE: VCRA), a company that specializes in communications systems for the healthcare industry, saw intense investor interest on Thursday. The company's stock rocketed nearly 27% higher on the news that it is effectively being acquired by a much larger peer.

Vocera and medical device maker Stryker (NYSE: SYK) divulged in a joint press release they have signed a definitive merger agreement. Under its terms, Stryker will acquire all outstanding shares of Vocera in a public tender offer for $79.25 per share. All told, the deal's enterprise value is roughly $3.09 billion.

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Source Fool.com