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Layne Christensen CO. (LAYN) Jumped To A New High After Bought By Granite

Layne Christensen Co. (LAYN) announced Wednesday morning that it has agreed to be acquired by Granite Construction Inc. (GVA) for $565 million in a stock-for-stock deal.

Layne Christensen gapped open sharply higher Wednesday, but pared its gains over the course of the session. Shares still finished up by 2.27 at $14.89 on the highest volume of the year. The stock leaped to a new high for the year.

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