Quality Distribution Inc. (QLTY) announced after the bell Tuesday that it has agreed to be acquired by funds advised by Apax Partners for approximately $800 million.
The company also reported first quarter adjusted EPS of $0.18, compared to $0.14 in the prior year. Analysts expected EPS of $0.14.
Quality Distribution gapped open dramatically higher Tuesday, but moved in a narrow range throughout the session. Shares finished up by 5.94 at $15.74 on the highest volume of the year. The stock closed challenging the highs of the year, trading at over a 9-month high.
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