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Why Globalstar Stock Jumped Today

TheMotleyFool

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Shares of Globalstar (NASDAQ: GSAT) climbed on Tuesday after the satellite operator struck a deal to be acquired by Amazon (NASDAQ: AMZN).

Image source: Getty Images.

Under the terms of the deal, Globalstar's shareholders would have the option to receive $90 in cash or 0.3210 shares of Amazon stock for each share of Globalstar stock they own, subject to certain caps. The agreement values Globalstar at over $11 billion.

Source Fool.com

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