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Stock Alert: Starboard Value Acquisition Shares Hit 52-Week High

Shares of Starboard Value Acquisition Corp. (SVAC) reached a 52-week high of $12.00 Monday morning, and are currently trading at $11.35, up 20 cents or 1.79%, with trading volume surging over 4.72 million versus an average volume of 257K shares.

Starboard Value Acquisition and Cyxtera Technologies Inc., today, announced signing of a definitive business combination agreement. The companies noted that the merger implies an enterprise value of about $3.4 billion.

Upon completion of the deal, the current owners of Cyxtera will retain about 58% ownership of the combined company. The combined company will operate as Cyxtera and expects its common stock to be listed on The Nasdaq Stock Market under the symbol "CYXT" and its warrants under the symbol "CYXTW."

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