Major Premium Buyout at Home Diagnostics, A Return To Old Prices (HDIX)
Home Diagnostics, Inc. (NASDAQ: HDIX) is this morning’s top pre-market gainer, on news of a buyout. The company has agreed to be acquired by Nipro Corporation for $11.50 per share in a $215 million buyout. This represents about a 90%…
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The company makes blood glucose monitoring systems and disposable supplies for people with diabetes. If you wonder how the price was determined, this stock came public in late-2006 and briefly traded above $12.00 in 2006 and 2007.
At 8:27 AM EST we have seen some 1.12 million shares trade hands versus an average daily volume of only about 26,600 shares. The stock is up 89% at $11.47 and the prior 52-week trading range is $4.62 to $7.71.
JON C. OGG
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