TBC To Buy Midas For $11.50/Share

TBC Corp reported that it has agreed to acquire Midas Inc MDS for $11.50 per share. The deal is valued at around $310 million, including the assumption of around $137 million in debt and liabilities. The offer price represents a 28% premium to Midas' closing price on Monday. The deal is likely to close by the end of the second quarter. MDS shares surged 26.25% to $11.35 in pre-market trading.