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Red Hat Inc. (RHT) Is Soaring After Bought By IBM

IBM Corp. (IBM) announced Monday morning that it has agreed to acquire all of the issued and outstanding common shares of Red Hat (RHT) for $190.00 per share in cash, representing a total enterprise value of about $34 billion.

Red Hat has gapped open sharply higher this morning and is now up 56.27 at $172.95. The stock has leaped to over a 4-month high.

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