Conceptus Inc. (CPTS) announced Monday morning that it agreed to be acquired by Bayer HealthCare for $31.00 per share in cash, approximately $1.1 billion.
Conceptus also reported first quarter net income of $0.05 per share, compared to the loss of $0.09 a year ago. The consensus estimate was for a loss of $0.01.
Conceptus gapped open dramatically higher Monday, but moved in a narrow range throughout the session. The stock finished up by 5.06 at $30.96 on the highest volume of the year. Conceptus leaped to a new high for the year.
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