VOLT - Volt Information Sciences skyrockets on acquisition proposal from ACS Solutions affiliate

Volt Information Sciences (NYSE:VOLT) rallied 94% higher premarket after it announced that it has entered into a definitive merger agreement with Vega Consulting, affiliate of ACS Solutions, wherein Volt will be acquired for $6/share in cash. This per share purchase price represents a premium of 99% to the company’s closing stock price on Mar. 11, 2022. Vega will commence a tender offer no later than Mar. 25, 2022 to acquire all outstanding shares of Volt. "With ACS Solutions as our sister company, we will be in a position to accelerate investments in technology, enhance our capabilities, expand our operations, and ultimately deliver better value to our clients -- all complementing the superior client service that has come to be synonymous with the Volt brand," Volt President & CEO commented. Merger agreement provides for a "go-shop" period during which Volt – with the assistance of Foros, its exclusive financial advisor, will evaluate if any alternative proposals;

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Volt Information Sciences skyrockets on acquisition proposal from ACS Solutions affiliate