Why Points.com Shares Exploded Higher Today
Shares of the Canadian loyalty e-commerce company Points.com (NASDAQ: PCOM) had soared nearly 43% as of 2:30 p.m. ET today after the company announced that it plans to be acquired in an all-cash transaction.
Points.com announced that the private company Plusgrade, a Canadian travel tech company that helps people use reward points to upgrade their airline seats, will acquire the company outright for $25 per share in cash.
The total purchase price of $385 million represents a 45% premium to Points.com's closing price on the Toronto Stock Exchange on May 6, where it is also listed.
Source Fool.com
