M*Modal (MODL) Shares Jump as One Equity Offers $14/Share in Cash

July 3, 2012 8:36 AM EDT Send to a Friend
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Shares of M*Modal (Nasdaq: MODL) are up nearly 9 percent Tuesday morning as One Equity Partners announced they will acquire all of the outstanding shares of M*Modal for $14.00 per share in an all-cash transaction. The transaction is valued at approximately $1.1 billion.

Under the terms of the agreement, which was unanimously approved by M*Modal’s Board of Directors, M*Modal shareholders will receive $14.00 in cash for each outstanding share of M*Modal common stock they own representing an 8.3% premium over the closing price on July 2, 2012, the last full trading day before today’s announcement, a 19.3% premium over the 180-day volume weighted average closing price of M*Modal common stock ending on such date and a 33.8% premium over the 52-week volume weighted average closing price of M*Modal common stock ending on such date. The deal is expected to close during the third quarter of 2012.

The stock last traded at $14.02, up 8.4 percent from Monday's close.


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