Ebix ( EBIX) shares were plunging 4.61% to $19.65 despite receiving an all-cash offer of $20 per share from Goldman Sachs ( GS). The insurance software company received an $820 million bid from the New York-based investment bank earlier this year, but the company has been under scrutiny for its accounting practices, and is the subject of investigations by U.S. regulators. The company has been under attack by short sellers for its accounting practices, after relying on low-tax areas such as India and Singapore. Ebix has been given a "go-shop" provision, which allows the company to seek out competing bids for the next 45 days.
Closing prices: YELP zoomed 27.4% higher to $32.22, FB rose 5.6% to $28.97, INTC was flat at $24.11 and EBIX ended Thursday 5.3% lower to $19.51. -- Written by Chris Ciaccia in New York >Contact by Email. Follow @Chris_Ciaccia