Church & Dwight (CHD: Quote) announced after the bell Monday that it agreed to acquire Avid Health Inc. for $650 million in cash. The transaction is expected to close early in the fourth quarter.
Church & Dwight gapped up Tuesday and spiked higher in early trade. The stock was range-bound for the remainder of the session and closed up by 2.71 at $55.75 on above average volume. Church & Dwight rose to a 2-week high and re-crossed its 50-day moving average.
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by RTT Staff Writer
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