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Brightpoint Inc. (CELL) Is Surging After Merger Announcement

7/2/2012 9:40 AM ET

Brightpoint Inc. (CELL: Quote) announced Monday morning that it agreed to be acquired by Ingram Micro Inc. (IM: Quote) for $9.00 per share in cash. The transaction is expected to close before the end of the year.

Brightpoint also announced that it now expects second quarter total revenue to be in the range of $1.25 billion to $1.35 billion and expects adjusted income from continuing operations of approximately $0.14 per share.

Brightpoint has gapped open sharply higher Monday and is now up 3.45 at $8.86 on strong volume. The stock has jumped to a 4-month high and has re-crossed its 200-day moving average.

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by RTT Staff Writer

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