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5 Things You Need To Know About The $1.8 Billion ConvergeOne Acquisition

ConvergeOne is being sold for a little more than the revenue its CEO, John A. McKenna Jr., told investors he expected the solution provider to generate in its first year as a publicly traded company.

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Stock Price Up On The News

CVC said it will make a cash offer to buy all the outstanding shares of ConvergeOne stock for $12.50 a share.

That represents a 56 percent premium to the closing price on ConvergeOne’s first day of trading.

The company debuted on the Nasdaq on Feb. 23, selling at $8.00 a share. Share prices were up $3.02 to $12.45 Monday, a 32 percent increase, on word of a takeover.

ConvergeOne's board of directors unanimously approved the deal and, according to a company statement, it believes the transaction “maximizes shareholder value.”

 
 
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