3M to Buy Cogent for $943M
3M agreed to buy Cogent for $10.50 a share, or $943 million.
(Story updated with Cogent's recommendation to shareholders and premarket trading)
NEW YORK (
) --
3M
said Monday it agreed to acquire
Cogent
(COGT)
for $10.50 a share, or $943 million.
Scroll to Continue
TheStreet Recommends
Cogent shares closed Friday at $8.91.
Cogent's board unanimously recommended that the shareholders of Cogent accept the offer.
Cogent shares surged by 18.9% to $10.60 in premarket trading, while 3M shares fell 0.3% to $80.80.
Cogent provides finger, palm, face and iris biometric systems for governments, law enforcement agencies, and commercial enterprises.
-- Written by Joseph Woelfel
>To contact the writer of this article, click here:
Joseph Woelfel
.
>To submit a news tip, send an email to:
.
