SRS Labs Inc. (SRSL: Quote) announced Tuesday morning that it entered into a definitive agreement to be acquired by DTS Inc. (DTSI: Quote) in a cash-and-stock transaction valued at $9.50 per share, or a total of approximately $148 million.
SRS Labs gapped open dramatically higher Tuesday, but traded in a narrow range throughout the session. The stock closed up by 2.53 at $9.39 on the highest volume of the year. SRS Labs jumped to over an 8 1/2 month high.
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by RTT Staff Writer
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