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Why Diamond Hill Stock Soared Today

TheMotleyFool

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Why Diamond Hill Stock Soared TodayPhoto, wide shot, wide-angle lens, Hedge fund, neutral atmosphere, photo by Charlie Waite: https://img.theapi.app/temp/95282efd-f725-49c0-be40-aa74627f7ccc.png

Shares of Diamond Hill Investment Group (NASDAQ: DHIL) leaped 44% on Thursday after the asset manager struck a deal to be acquired by First Eagle Investments for $473 million.

Image source: Getty Images.

Under the terms of the deal, First Eagle will purchase all of Diamond Hill's outstanding stock for $175 per share in cash. That's a premium of more than 49% compared to Diamond Hill's closing stock price on Dec. 10.

Source Fool.com

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