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 gapped open sharply higher Monday and closed up by 3.60 at $9.01 on the highest volume of the year. The stock surged to a 4-month high and re-crossed its 200-day moving average.
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by RTT Staff Writer
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