Stock Alert: EXFO Zooms 60% On Decision To Go Private

(RTTNews) - Shares of EXFO Inc. (EXFO) are up more than 60% Monday morning after the company announced its decision to go private.

As per the arrangement agreement, 11172239 Canada Inc., controlled by Germain Lamonde, EXFO's founder and majority shareholder, will acquire all of the outstanding subordinate voting shares of the Corporation.

Subordinate Voting Shareholders will get $6 per share, in cash, a 62% premium to the closing price per Subordinate Voting Share on June 4, 2021, and a 63% premium to the 20-day volume-weighted average trading price for the Subordinate Voting Shares for the period ending on June 4.

The stock is trading at $5.94 currently.