Nuance Shares Rise in Premarket Trading on Microsoft Takeover Report
April 12 2021 - 6:27AM
Dow Jones News
By Colin Kellaher
Shares of Nuance Communications Inc. rose more than 20% in
premarket trading Monday after Bloomberg reported that Microsoft
Corp. is near a deal to buy the artificial-intelligence company for
about $16 billion.
The Redmond, Wash., technology giant could announce as early as
Monday an agreement to buy Burlington, Mass.-based Nuance for about
$56 a share, Bloomberg reports, citing familiar with the
matter.
That would represent a roughly 23% premium to Friday's closing
price of $45.58 for Nuance and is above the stock's 52-week high of
$51.62 reached in February.
Nuance shares were recently up 21.6% to $55.44 in premarket
trading, while Microsoft shares edged up less than 1%.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
April 12, 2021 06:12 ET (10:12 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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