Market Overview

Bankrate Acquired By Red Ventures At A Modest Premium

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Bankrate Inc (NYSE: RATE) shares are trading higher by $1.07 at $13.93 in Monday's session. Before the open, it was announced that the company will be acquired by Red Ventures for $14/share cash for a deal worth $1.4 billion.

That is just over an 8-percent premium to Friday's closing price of $12.85. At this time, the Street anticipates the deal not having any regulatory issues as it briefly traded over the take-out price to $14.25, but it is now trading just below the proposed acquisition price.

Although the price being paid for is over double its all-time low from February 2016 ($6.59), it is well shy of its all-time high that was made in October 2013 at $23.14.

Posted-In: Red VenturesTechnicals Intraday Update Movers Trading Ideas

 

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