PerkinElmer Will Acquire Oxford Immunotec Global
PerkinElmer, Inc. announced on January 7 that it will acquire lab diagnostics company Oxford Immunotec Global PLC (OXFD). Under the terms of the acquisition, Oxford Immunotec shareholder will receive USD $22 per share in cash for their stake in the company. The agreement values Oxford Immunotec at around $591 million. This is a 28.3% premium to the closing price of $17.15 on January 5.
Jet Equities sent an alert to subscribers at 7:00 am on January 7. Oxford Immunotec’s last trade was for $17.29 at the market close on the previous day. The stock price spiked above $21 following the announcement and continued to trade above that level for the remainder of the day. Oxford Immunotec closed at $21.88 with an event-day gain of 26%.
Find out more about how you can trade on stock merger and acquisition announcements in the Knowledge Center.
Subscribe here if you would like to start receiving these signals in real-time and start trading!