Market Overview

Fusion-IO Peers Moving Higher After Announced Takeover

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Fusion-IO (NYSE: FIO) competitors are moving higher after SanDisk (NASDAQ: SNDK) announced its intention to pay a 21.2 percent premium for Fusion-IO.

Fusion-IO shares are trading $0.15 above the $11.25 SanDisk intends to pay, possibly indicating investors think the company is still undervalued and will receive a higher offer.

Violin Memory (NYSE: VMEM) shares are up 2.25 percent to $4.04.

Nimble Storage (NYSE: NMBL) shares are up 2.11 percent to $27.06.

Posted-In: M&A News Trading Ideas

 

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