ExactTarget Inc. (ET) announced Tuesday morning that it agreed to be acquired by Salesforce.com (CRM) for $33.75 per share in cash, approximately $2.5 billion.
ExactTarget gapped open dramatically higher Tuesday, but moved in a narrow range throughout the session. The stock closed up by 11.59 at $33.69 on the highest volume of the year. ExactTarget leaped to a new high for the year.
Salesforce.com gapped open lower Tuesday and declined further during the final 2 hours of trade. The stock finished with a loss of 3.24 at $37.80, with volume at over an 11-month high. Salesforce.com dropped to over a 6-month low.
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