Ariba Inc. (ARBA) announced late Tuesday afternoon that it agreed to be acquired by SAP America Inc., a subsidiary of SAP AG, for $45.00 per share. The transaction is expected to close in the third quarter of calendar year 2012.
Ariba was halted before the announcement was made and jumped sharply once trading resumed. The stock closed up by 7.23 at $44.87 on the highest volume of the year. Ariba broke out of a 3-week range and set a new high for the year.
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