Shares of Kronos(KRON Quote) were among technology's winners Friday, jumping 14% after the software company agreed to be acquired by private equity firm Hellman & Friedman Capital Partners for about $1.8 billion, or $55 a share.
The all-cash deal represents an 18% premium over Thursday's closing price of $46.63. "We are pleased to announce this agreement, which represents the culmination of a thorough review of our standalone plan and strategic alternatives," Kronos said. The deal is expected to close during the fourth quarter of fiscal 2007. Shares of Kronos were recently trading up $6.33, to $52.96.
Bookham(BKHM Quote) slumped 10% after the telecom-equipment company said it will sell about 13.6 million shares of stock for $28.6 million in a private placement. The company will also issue warrants to buy about 4.1 million shares of stock. The warrants will have an exercise price of $2.80 a share. Bookham plans to use proceeds from the offering to fund its working capital needs. Shares were trading down 25 cents, to $2.10. ...
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