Hot Topic Inc. (HOTT) announced Thursday morning that it agreed to be acquired by Sycamore Partners for $14.00 per share in cash, or a total of approximately $600 million.
Hot Topic gapped open dramatically higher Thursday, but moved in a narrow range throughout the session. The stock closed up by 3.12 at $13.87 on the highest volume of the year. Hot Topic leaped to a new high for the year.
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