Cablevision Systems Corp. (CVC) announced Thursday morning that it has agreed to be acquired by Altice for $34.90 per share, or approximately $17.7 billion. The transaction is expected to close in the first half of 2016.
Cablevision Systems gapped open dramatically higher Thursday, but was range-bound throughout the session. Shares finished with a gain of 3.97 at $32.51 on the highest volume of the year. The stock leaped to a new high for the year.
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