Sun Healthcare Group (SUNH: Quote) announced after the close Wednesday that it agreed to be acquired by Genesis HealthCare for $8.50 per share of common stock in cash. The closing is expected to occur in the fall.
Sun Healthcare Group has gapped open sharply higher Thursday morning and is now up 2.21 at $8.35 on strong volume. The stock has leaped to an 11-month high.
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by RTT Staff Writer
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