Zeltiq Aesthetics Inc (NASDAQ: ZLTQ)
Zeltiq Aesthetics is having an incredibly strong start to today’s trading session. Thanks to strong pre-market gains, the stock started the day off with an impressive profit. While we’re still early in the first hour, it’s clear that the stock is going to close the day well into the green. Below, we’ll talk about what we’re seeing from ZLTQ, why, and what we’ll be watching for ahead.
What We’re Seeing From ZLTQ
As mentioned above, Zeltiq Aesthetics is off to an incredibly strong day in the market today. When the opening bell rang, the stock was already trading up in a big way thanks to strong pre-market activity. Since the open, the stock has continued to inch its way upward. At the moment (9:44), ZLTQ is trading at $55.72 per share after a gain of $6.32 per share or 12.79% thus far today.
Why The Stock Is Climbing
As is almost always the case, our partners at Trade Ideas were the first to inform us of the gains on ZLTQ. As soon as we got the alert, the CNA Finance team started to dig to see if we could uncover the reason for the gains. In this case, it didn’t take long to dig up the story at all. The gains are ultimately the result of an acquisition.
In an announcement made early this morning, we learned that Zeltiq Aesthetics will be acquired. According to the announcement, a definitive agreement has been signed with Allergan (AGN), who will acquire the company for $2.3 billion. This price represents a strong premium, returning incredible value to shareholders.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on both ZLTQ and AGN. Of course, while the acquisition has been announced, it is still at the mercy of customary closing conditions. Nonetheless, we see no reason that the acquisition would be blocked. We’ll continue to watch the news and bring any updates to you as they break!
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