Shares of Tessco Technologies Inc. shot up 86.6% toward a two-year high in premarket trading Wednesday, after the wireless infrastructure company announced...
Shares of Tessco Technologies Inc.
shot up 86.6% toward a two-year high in premarket trading Wednesday, after the wireless infrastructure company announced an agreement to be acquired by Alliance Corp. and GetWireless LLC in a deal reflecting a 91.5% premium. Under terms of the deal, Tessco shareholders will receive $9 in cash for each Tessco share they own, which compares with Tuesday’s closing price of $4.70. The stock hasn’t closed as high as $9 since February 2021.
shot up 86.6% toward a two-year high in premarket trading Wednesday, after the wireless infrastructure company announced an agreement to be acquired by Alliance Corp. and GetWireless LLC in a deal reflecting a 91.5% premium. Under terms of the deal, Tessco shareholders will receive $9 in cash for each Tessco share they own, which compares with Tuesday’s closing price of $4.70. The stock hasn’t closed as high as $9 since February 2021.
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