Why Kaleyra (KLR) Stock Is Popping Wednesday
Portfolio Pulse from Erica Kollmann
Tata Communications Limited has announced its intention to acquire Kaleyra, Inc. (NYSE:KLR) for $7.25 per share, a total consideration of approximately $100 million, including the assumption of all outstanding debt. This represents a significant premium to Kaleyra's last closing share price. Following the announcement, Kaleyra's shares traded nearly 40% higher.
June 28, 2023 | 3:49 pm
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Kaleyra's stock price has increased nearly 40% following the announcement of its acquisition by Tata Communications. The acquisition price represents a significant premium to Kaleyra's last closing share price.
The acquisition announcement by Tata Communications has led to a significant increase in Kaleyra's stock price. The acquisition price, which is higher than Kaleyra's last closing share price, has likely boosted investor confidence in the stock, leading to the price surge.
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