TNS Inc. (TNS) announced Tuesday morning that it has entered into a definitive merger agreement to be acquired by an investor group led by Siris Capital Group, in a transaction valued at approximately $862 million. The transaction is expected to close in the first quarter of 2013.
TNS gapped open dramatically higher Tuesday, but traded in a narrow range throughout the session. The stock closed up by 6.20 at $20.76 on the highest volume of the year. TNS leaped to over a 7-month high and re-crossed its 200-day moving average.
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