Ardian has entered into a definitive agreement to buy pay service provider PRGX Global for $195 million in cash. PRGX shares rose 4.6% to $7.70 at the close on Thursday. According to the terms of the deal, the private investment house will pay PRGX Global (PRGX) shareholders $7.71 per share in cash for each share of PRGSX's common stock representing a premium of 32.7% to the stock's volume-weighted average price for the 90 trading days preceding the announcement of the transaction. The deal is led by Ardian’s North America Direct Buyouts team. Following the transaction, PRGX Global will operate as a privately-held company, pending approval from the board.
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