When one tiny company takes out another, there can be only one winner.
Accuray (Nasdaq: ARAY) announced yesterday that it was purchasing fellow radiation-therapy maker TomoTherapy (Nasdaq: TOMO) for $277 million. Accuray is only a $550 million company itself.
The cash-and-stock deal values TomoTherapy at $4.80 per share, a 31% increase over the previous closing price. Or at least it was before Accuray fell 10% yesterday. Apparently Accuray’s investors weren’t all that excited about the acquisition.
Read the complete article here.
Happy trading,
Curt
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