Netspend Holdings Inc. (NTSP) announced after the close Tuesday that it agreed to be acquired by TSYS (TSS) in an all cash transaction valued at approximately $1.4 billion. The transaction is expected to close in mid-2013.
Netspend Holdings gapped open sharply higher Wednesday, but traded in a narrow range throughout the session. Shares finished up by 3.52 at $15.81 on the highest volume of the year. The stock leaped to a new high for the year.
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