Why Volt Information Sciences Shares Are Soaring

Volt Information Sciences Inc VOLT is trading significantly higher Monday morning after the company announced it entered into a definitive merger agreement to be acquired for $6 per share. 

Vega Consulting will commence a tender offer no later than March 25 to acquire all outstanding shares of Volt for $6 per share in cash. The transaction is expected to close in the second quarter. 

"This acquisition offers Volt a compelling opportunity for continued growth," said Linda Perneau, president and CEO of Volt.

Volt offers recruitment services including staffing services, outsourcing solutions and information technology infrastructure services.

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VOLT 52-Week Range: $2.46 - $5.50

Volt shares were up 95.7% at $5.91 at time of publication.