By Colin Kellaher
GXO on Thursday said it would pay about $181 million, or $7.50 a share, in cash for PFSweb, some 50% above Wednesday’s closing price of $5.01.
Shares of PFSweb were recently changing hands at $7.42, up 48%.
The takeover price is nearly double PFSweb’s 52-week low of $3.80 in mid-May, but it is also 34% below the stock’s 52-week high of $11.45, reached last November.
Write to Colin Kellaher at email@example.com
Read the full article here