Cisco Systems (CSCO) announced Tuesday morning that it entered into definitive agreement to acquire Starent Networks Corp. (STAR) for $35 per share in cash, approximately $2.9 billion. The deal is expected to close in the first half of calendar year 2010.
Starent Networks has spiked sharply to the upside in the last 10 minutes of trade and is currently higher by 5.43 at $34.46 on above average volume. The stock has been rising for the last week and a half and has surged to a new high for the year.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.