Spok Holdings Inc (NASDAQ:SPOK) sprouted wings Tuesday on word the company had agreed to be purchased by Acacia Research Corp. (NASDAQ:ACTG) for $10.75 per share in cash.
The offer price implies a 36.8% premium to Spok's August 27 closing price of $7.86.
Spok’s Board of Directors intends to evaluate the letter in consultation with its regular independent financial and legal advisors. There can be no assurance that the letter and public announcement will lead to a formal proposal, offer or agreement. At this time, Spok shareholders are not required to take any action.
Acacia Research held $320.6 million in cash and equivalents as of June 30. At its last quarterly statement, handed down in mid-August, Acacia revealed GAAP net income to common stockholders was $18.8 million, or $0.23 per diluted share, compared to net income of $4.2 million, or $0.09 per diluted share, last year.
Spok calls itself be a global leader in health-care communications.
Top hospitals rely on the Spok Go® and Spok Care Connect® platforms to enhance workflows for clinicians and support administrative compliance. "Our customers send over 100 million messages each month through their Spok solutions. When seconds count and patients' lives are at stake, Spok enables smarter, faster clinical communication."
SPOK had leaped $1.83, or 23.3%, to $9.68, while those for Acacia took on 12 cents, or 2%, to $$6.01.
