Tech giant IBM (NYSE:IBM) has closed its $34 billion acquisition of Red Hat (NYSE:RHT). The announcement was made earlier today and, surprisingly, IBM shares are currently in the red, down 1% in response.
IBM Closes Red Hat AcquisitionOriginally announced in October 2018, the deal sees IBM paying $190 per share for all shares in Red Hat. The offer price was a 63% premium over Red Hat’s then share price of approximately $116. The deal is the largest made in IBM’s history.
At the time of the announcement, RHT shares skyrocketed 46%, closing at ...
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