Magnetek Inc. (MAG) announced Monday morning that it has agreed to be acquired by Columbus McKinnon Corp. (CMCO) for $50 per share, or approximately $188.9 million.
Magnetek gapped open dramatically higher Monday, but moved in a narrow range throughout the session. The stock finished with a gain of 17.27 at $49.52 on the highest volume of the year. Magnetek closed challenging the highs of the year, trading at a 4 1/2 month high.
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