Informatica's Stock Rallies After $5.3 Billion Buyout Deal
Shares of Informatica Corp. ran up 5.2% in premarket trade Tuesday, after the California-based data integration software company agreed to be bought out by a company controlled by the Perfirma funds and Canada Pension Plan Investment Board in a cash deal valued at $5.3 billion. Under terms of the deal, Informatica shareholders will receive $48.75 a share, which is 6.3% above Monday's closing price of $45.83, for each Informatica share they own. The deal is expected to close in the second or third quarter of 2015. Informatica's stock has climbed 20% year to date through Monday, while the S&P 500 has gained 1.1%.
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