Digital Generation (DGIT) Soars Into the Close on Takeover Report

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Shares of Digital Generation, Inc. (Nasdaq: DGIT) surged into the close Wednesday following reports from Bloomberg that the company rejected an offer of more than $20 per share from rival Extreme Reach.

A merger between the two advertising-management companies might have raised antitrust concerns, a person familiar with the matter was quoted as saying.

A $20 offer would be more than double Digital Generation's Wednesday market close.

Takeover talk on Digital Generation might not be new to StreetInsider.com members. On May 30, StreetInsider.com highlighted comments from CNBC Fast Money contributor Karen Finerman discussing a possible deal.

Also, the stock is listed as number 8 on the Top 50 Takeover Target list at M&A Insider.

Digital Generation jumped 26.5 percent to close at $12.13 following the takeover report.

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