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Abaxis Inc. (ABAX) Has Broken Out To A New High After Bought By Zoetis

Zoetis Inc. (ZTS) announced Wednesday morning that it has agreed to buy Abaxis Inc. (ABAX) for US$83 per share in cash or about $2.0 billion.

Abaxis has gapped open sharply higher this morning and is now up 11.09 at $82.84 on above average volume. The stock has broken out past resistance and has set a new high for the year.

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