NEW YORK (TheStreet) -- Fusion-io (FIO) stock is spiking on news SanDisk (SNDK) has agreed to acquire the company in an all-cash transaction worth $1.1 billion. The offer of $11.25 per share represents a 21.2% premium to Friday's closing price of $9.28.
The offer is expected to close during SanDisk's third quarter and will be accretive in the second half of fiscal 2015.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV