PTEC Jumps On Acquisition News

Shares of Phoenix Technologies Ltd PTEC are gaining on its acquisition agreement with Marlin Equity Partners. PTEC shares surged 24.83% to $3.77 at 10:19 am. PTEC has agreed to be acquired by Marlin Equity Partners for $139 million or $3.85 per share, representing a 27% premium over PTEC's closing price on Tuesday. Phoenix Technologies’ shares have lost 3.21% over the last week, while gaining 9.82% so far this year. Read more from Benzinga's Company news.