Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Measurement Specialties jumped nearly 11% Thursday after the sensor manufacturer announced it has agreed to be acquired by TE Connectivity .
So what: TE Connectivity will acquire Measurement Specialties for $86 per share in cash, or a roughly 10% premium to yesterday's close. Including the assumption of debt, the total deal is valued at approximately $1.7 billion.
TE Connectivity CEO Tom Lynch said in a press release, "The acquisition of Measurement Specialties is a key part of our strategy to be a leader in the very attractive, high-growth sensor industry and adds nearly $40 billion to our addressable market."
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The article Why Measurement Specialties Inc. Shares Popped Today originally appeared on Fool.com.Steve Symington has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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