magicJack VocalTec Ltd (NASDAQ: CALL) is having a great time in the market at the moment after a rumored takeover offer sent the stock skyrocketing. Shortly after the rumor broke, the stock was halted on volatility. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (1:00), CALL remains halted at $7.25 per share after a gain of $0.65 per share (9.85%) thus far today.
CALL Gains On Takeover Offer
As mentioned above, magicJack VocalTec is off to an incredibly good time in the market at the moment, and for good reason. The company has seemingly been approached with a takeover offer. At the moment, the story is still breaking and no details are confirmed.
Nonetheless, what we do know is that takeover chatter is surfacing. The reports are that Yip TV has made an offer to take CALL over at a price of $9.50 per share. Of course, no one quite knows if magicJack VocalTec is going to take the offer. However, it’s definitely causing waves in the market.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on CALL. In particular, we’re interested in following the potential acquisition of the company. Of course, if the deal did take place, it would return incredible value to shareholders. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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