Resonant (NASDAQ:RESN) stock is up a whopping 250% today on news that the company is being acquired at a hefty premium.
So what do you need to know about the deal?
To start, Resonant is a company that specializes in radio frequency products. Murata Electronics North America, a subsidiary of Murata Manufacturing (OTCMKTS:MRAAY), is paying $4.50 a share in cash to acquire all outstanding RESN stock. That represents a 265% premium over Resonant stock’s Feb. 14 closing price of $1.23 a share.
Following the deal’s conclusion, Resonant will become a wholly owned subsidiary of Kyoto, Japan-based Murata. It will sustain its primary radio frequency business, the companies said in a joint news release.
Here are five things to known about the deal that will see Murata acquire Resonant.
Five Things to Know About the RESN Stock Deal
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On the date of publication, Joel Baglole did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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