180 Connect (CNCT) Higher Following DIRECTV Buyout
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This morning, 180 Connect Inc. (OTCBB: CNCT) announced they signed a definitive merger agreement with DIRECTV, Inc. (NYSE: DTV). Under the terms of the agreement, DIRECTV will acquire 100% of 180 Connect's outstanding common stock and exchangeable shares for $1.80 per share.
180 Connect is up 69% to $1.69 today on the news.
By acquiring 180 Connect, DIRECTV will gain control of one of its largest installation and home service providers in 45 U.S. market locations. [LJ]
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