NEW YORK (
was a big mover in premarket trading on Monday after the telecom equipment maker announced an $891 million deal to be acquired by
Marlin Equity Partners
Under the terms of the merger agreement, entities affiliated with Marlin will acquire all of Tellabs' outstanding shares for $2.45 a share in cash. The deal is expected to close in the fourth quarter.
Tellabs' shares climbed 5.11% to $2.47 before market open. The Naperville, Ill.-based firm was also the most active premarket Nasdaq stock on share volume of 13,072,681.
was another premarket mover, rising 0.81% to $54.66 on share volume of 636,228, while
was up 0.87% to $4.08 on share volume of 322,414.
continued its recent
, gaining 5.03% to $62.45 on volume of 248,169.
, which is expected to refresh its
at an event in San Francisco on Tuesday, rose 0.65% to $512.22.
--Written by James Rogers in New York.