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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Measurement Specialties jumped nearly 11% Thursday after the sensor manufacturer announced it has agreed to be acquired by TE Connectivity .
So what: TE Connectivity will acquire Measurement Specialties for $86 per share in cash, or a roughly 10% premium to yesterday's close. Including the assumption of debt, the total deal is valued at approximately $1.7 billion.
TE Connectivity CEO Tom Lynch said in a press release, "The acquisition of Measurement Specialties is a key part of our strategy to be a leader in the very attractive, high-growth sensor industry and adds nearly $40 billion to our addressable market."
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The article Why Measurement Specialties Inc. Shares Popped Today originally appeared on Fool.com.
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