Parlux Fragrances Inc. (PARL) announced late Friday afternoon that it agreed to be acquired by Perfumania Holdings Inc. (PERF) for approximately $170 million.
Parlux Fragrances gapped open sharply higher Tuesday, but traded in a narrow range throughout the session. Shares finished up by 2.47 at $5.94 on the highest volume of the year. The stock jumped to a new high for the year.
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