Red Hat shares soar on IBM deal
NEW YORK — Shares of Red Hat skyrocketed at the opening bell Monday after IBM, in the biggest acquisition of its 100-year history, acquired the software company. The $34 billion stock deal translates to $190 per Red Hat share — a 63 percent premium to the closing price Friday for the Raleigh, North Carolina company. Red Hat Inc.’s stock soared almost 50 percent in early trading.The path for revitalization for New York’s IBM may be found in cloud […]
