Iteris To Be Acquired By Almaviva For $335M, Shareholders Set To Receive $7.20 Per Share
Portfolio Pulse from Benzinga Newsdesk
Iteris, Inc. (NASDAQ:ITI) will be acquired by Almaviva S.p.A. for $335 million. Iteris shareholders will receive $7.20 per share in cash, representing a 68% premium.
August 09, 2024 | 6:18 am
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Iteris, Inc. (NASDAQ:ITI) will be acquired by Almaviva S.p.A. for $335 million. Shareholders will receive $7.20 per share in cash, representing a 68% premium.
The acquisition by Almaviva at a 68% premium is likely to drive ITI's stock price up in the short term as shareholders benefit from the significant premium.
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