Volcano Corp. (VOLC) announced Wednesday morning that it agreed to be acquired by Royal Philips for USD 18.00 per share, or approximately USD 1 billion.
Volcano gapped open dramatically higher Wednesday morning, but traded in a narrow range throughout the session. The stock closed up by 6.35 at $17.84 on the highest volume of the year. Volcano soared to over a 5-month high and re-crossed its 200-day moving average.
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