The all-cash tender offer is expected to begin within 5 days and represents a 39% premium over X-Rite’s closing price of $4/share last night. According to the announcement 68% of X-Rite’s voting shareholders intend to tender their shares in the offer.
Shares of X-Rite are up 38.5% at $5.54 in pre-market trading. The company’s 52-week range is $3.26-$5.03. Shares of Danaher are unchanged this morning at $54.59 in a 52-week range of $39.34-$56.45.
Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
Our top personal finance-related articles today. Your wallet will thank you later.
Top Gaining Stocks
Top Losing Stocks