Shares of Resonant Inc. RESN, +249.19% more than tripled in very active trading Tuesday, after the mobile device software company announced an agreement to be acquired by Murata Electronics North America Inc., which is a subsidiary of Japan-based Murata Manufacturing Co. Ltd. MRAAY, +1.69% 6981, in a deal that implies a market capitalization for Resonant of about $295.7 million. Resonant’s stock skyrocketed 249.6% to pace all gainers, while trading volume spiked up to 10.6 million shares, compared with the full-day average of about 523,300 shares. Under terms of the deal, which was announced late Monday, Murata will pay $4.50 in cash for each Resonant share outstanding, which was 265.9% above Monday’s closing price of $1.23. The deal is expected to close in March. Resonant’s stock has still shed 35.1% over the past 12 months and Murata’s U.S.-listed shares have dropped 24.7%, while the S&P 500 SPX, +1.47% has rallied 13.0%.
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