Xcerra Corporation (NASDAQ: XCRA)
Xcerra Corporation is having an incredibly strong time in the pre-market hours this morning, and for good reason. The company announced this morning that it would be acquired, exciting investors and pushing the stock upward. As is almost always the case, our partners at Trade Ideas were the first to alert us of the upward movement. At the moment (8:22), XCRA is trading at $9.96 per share after a gain of $0.96 per share or 10.67% thus far today.
XCRA To Be Acquired
As mentioned above, Xcerra Corporation is having a strong day in the market today after announcing acquisition news. The news is that the company will be acquired in a deal valued at $10.25 per share or approximately $580 million. The buyer in the acquisition is Unic Capital Management Co. Ltd. Unic Capital Management is an affiliate of Sino IC Capital. In a statement, Dave Tacelli, President and CEO at XCRA, had the following to offer…
“The partnership we have announced today with Sino IC Capital will deliver strong value for our shareholders and will also benefit our customers and employees. With the financial backing of such a prominent and respected private equity fund, Xcerra will be well positioned for future growth, both in new and existing markets. We believe this partnership will enable the company to make long term investments in innovation and product development as well as broaden and strengthen our customer relationship around the world.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on XCRA. In particular, we’ll be watching the acquisition. While it looks like it’s going to go through with no problems at all, it is still subject to customary closing conditions. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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