Remedy Leaps on Takeover - TheStreet

Remedy Leaps on Takeover

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Business software maker Remedy (RMDY) was up 63.6% in preopen Island trading after the company announced it was being purchased by rival Peregrine Systems (PRGN) for $1.08 billion in stock and cash.

The deal gives shareholders $9 in cash and 0.9065 shares of Peregrine for each share of Remedy.

Peregrine was down 9.8%.