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Why Did Abacus Global Plunge 28.69% On Takeover Bid?
Generated by AI AgentAinvest Movers Radar
Tuesday, Apr 8, 2025 7:24 am ET1min read
On April 8, 2025, Abacus Global experienced a significant drop of 28.69% in pre-market trading, sparking concerns among investors and analysts alike.
Abacus Global, a prominent player in the storage solutions industry, recently received a takeover bid from Ki, which values the company at a 26.7% premium to its closing share price on Friday. This development has been closely watched by market participants, as Ki already holds a substantial stake in Abacus, with an indirect and direct interest of nearly 60%. The takeover bid has raised questions about the future direction of Abacus Global and its strategic plans.
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