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Virtusa Jumps On $2B Accord To Be Bought By Baring Pe Asia

by thestreet.com posted 2weeks ago 37 views
Click to view a price quote on VRTU. : Virtusa (VRTU) - Get Report shares on Thursday jumped after the digital engineering and IT outsource company said it was being acquired by Baring Private Equity Asia for about $2 billion cash. Under the terms of the agreement, the two companies said in a statement, Baring PE Asia will acquire all of Virtusa's common shares for $51.35 each. That's more than 2 1/2 times the stock's 52-week low above $19, set in mid-March. The stock traded just under $50 in mid-February.

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