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 gapped open sharply higher Tuesday, but traded in a range for the majority of the session. Shares finished up by $4.88 at $33.91 on the highest volume of the year and closed at a new high for the year.
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