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 gapped open sharply higher Tuesday, but moved in a narrow range throughout the session. The stock finished up by 1.36 at $4.07 on strong volume. MEMSIC leaped to over an 11-month high.
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