M*Modal Shares Jump In Pre-Market On Acquisition News

Shares of M*Modal

surged more than 8% in pre-market trading after the company agreed to be acquired by One Equity Partners, the private investment arm of JP Morgan Chase & Co

, for around $1.1 billion in cash. The offer price of $14 per share represents an 8.3% premium to M*Modal's closing price on Monday. The deal is likely to close during the third quarter of 2012. M*Modal shares jumped 8.04% to $13.97 in pre-market trading.