MEMSIC Inc. (MEMS) announced Tuesday morning that it has agreed to be acquired by IDG-Accel China Capital II, L.P. and its affiliates MZ Investment Holdings Limited and MZ Investment Holdings Merger Sub Limited, for $4.225 per share in cash.
MEMSIC has gapped open dramatically higher Tuesday and is now up 1.34 at $4.05 on above average volume. The stock has leaped to over an 11-month high.
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