Meade Instruments Corp. (MEAD) announced after the bell Friday that it agreed to be acquired by Jinghua Optics & Electronics for approximately $4.5 million or $3.45 per share in cash. The acquisition is expected to be completed by the end of July 2013.
Meade Instruments gapped open sharply higher Monday, but moved in a narrow range throughout the session. The stock closed up by 1.74 at $3.41 on the highest volume of the year and set a 7-month high.
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