DCT - Why Investors Were Quacking so Hard About Duck Creek Technologies This Week
Duck Creek Technologies (NASDAQ: DCT) stood out this week even within the resurgent tech sector. That was hardly a surprise, as the company has signed a deal to go private in a lucrative buyout deal. News of the arrangement shot the share price well higher; Thursday evening, it was up a whopping 47% week-to-date, according to data compiled by S&P Global Market Intelligence .
Duck Creek had quite the announcement to begin the week. On Monday, the company revealed that it had entered into an agreement to be purchased by Vista Equity Partners for $19 per share -- a 46% premium to its closing stock price the previous Friday (hence the corresponding movement upwards following the announcement).
The transaction will be effected entirely in cash, and is valued at roughly $2.6 billion .
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Why Investors Were Quacking so Hard About Duck Creek Technologies This Week