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Acme Packet Inc. (APKT) Jumped To A 9-Month High After Oracle Buys

Acme Packet Inc. (APKT: Quote) announced Monday morning that it agreed to be acquired by Oracle Corp. (ORCL: Quote) for $29.25 per share in cash, or $2.1 billion. The transaction is expected to close in the first half of 2013.

Acme Packet gapped open dramatically higher Monday, but moved in a narrow range throughout the session. The stock finished up by 5.66 at $29.59 on the highest volume of the year and jumped to a 9-month high.

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by RTT Staff Writer

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