Volt Information Shares Surged 95% after Vega Consulting Buyout Deal at a Large Premium

Dow Jones2022-03-14

Shares of Volt Information Sciences Inc. $(VOLT)$ rocketed 95.36% toward a near five-year high to pace all premarket gainers Monday, after the staffing services company announced an agreement to be acquired by Vega Consulting Inc. in a deal that values Volt at $132.6 million.

Under terms of the deal, Vega will pay $6 for each Volt share outstanding, which totaled 22.1 million shares as of Jan. 7. The per-share bid represents a 98.7% premium to Friday's stock closing price of $3.02.

The deal, which is expected to close in the second quarter of 2022, will allow for a "go-shop" period through April 11, in which Volt can actively solicit rival buyout bids. Volt's stock, which is on track to open at the highest level since May 2017, has rallied 16.6% over the past three months while the S&P 500 has lost 9.3%.

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Comments

sheenayam
2022-03-14
sheenayam
Like
Kel9670ong
2022-03-14
Kel9670ong
This price is crazy and good
ahleemama
2022-03-14
ahleemama
SHORT
Sfun
2022-03-14
Sfun
haha
fa9b238
2022-03-14
fa9b238
does it mean that VOLT price will fly today lol
Bspn
2022-03-14
Bspn
Ok

Leave a comment

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lol","listText":"does it mean that VOLT price will fly today&nbsp; lol","text":"does it mean that VOLT price will fly today lol","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9032914361","repostId":2219275774,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9032911446,"gmtCreate":1647258247228,"gmtModify":1676534208608,"author":{"id":"3582502134655895","authorId":"3582502134655895","name":"Bspn","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3582502134655895","authorIdStr":"3582502134655895"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9032911446","repostId":2219275774,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":97,"commentSize":12,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; 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