By Colin Kellaher
Shares of IEC Electronics Corp. rose more than 45% Thursday after the electronic manufacturing services provider agreed to be acquired for about $173.8 million.
Privately held Creation Technologies Inc. said it would pay $15.35 a share in cash for IEC, a more-than-47% premium to Wednesday’s closing price of $10.41 for the Newark, N.Y., company.
But IEC has 35 days to seek a better deal, and its shares have traded as high as $15.44 in Thursday’s session, above the agreed purchase price. IEC shares were recently changing hands at $15.36, up 47.6%.
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View more information: https://www.marketwatch.com/story/iec-electronics-shares-surge-on-creation-technologies-deal-iec-271628781225