Actuate Corp. (BIRT) announced Friday morning that it agreed to be acquired by an affiliate of Open Text (OTEX) for $6.60 in cash per share. The transaction is expected to close in the first quarter of 2015.
Actuate has gapped open dramatically higher this morning and is now up 3.05 at $6.55 on the highest volume in 7 months. The stock has leaped to a 10-month high.
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