LiveRamp to Be Delisted Before Monday as Publicis Deal Closes
RAMP sits 77% above its 52-week low of $21.71 on elevated volume (1.8× avg).
Summary
LiveRamp shares are set to stop trading and be delisted before Monday's open, the final step in Publicis Groupe's all-cash acquisition at $38.50 a share. The stock is trading at $38.50, essentially at the deal price and at its 52-week high, so the arbitrage spread is gone. This closes out a process that cleared its last regulatory hurdle when the FTC approved the $2.5B deal on October 19, after stockholders approved it in August. Remaining holders will be cashed out at $38.50; there is no further equity story here.
At the time of this announcement, RAMP was trading at $38.50 on NYSE in the Technology sector, with a market capitalization of approximately $2.3B. The 52-week trading range was $21.71 to $38.52. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.