Five9 stock rallies, Zoom shares fall after $14.7 billion all-stock merger deal announced

Shares of Five9 Inc.

surged 8.4% in premarket trading after the $14.7 billion all-stock buyout deal by Zoom Video Communications Inc. ZM, +1.45% was announced over the weekend, but was trading below the implied price of the deal at Friday's closing prices, as Zoom's stock slumped. Zoom's stock fell 2.0% ahead of the open. Under terms of the deal, Five9 shareholders will receive 0.5533 Zoom shares of each Five9 share they own. Based on Friday's stock closing prices, of $361.97 for Zoom and $177.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Japan's Nikkei 225 falls 1% as Asia-Pacific stocks slip; OPEC and allies reach dealOPEC and its allies reached a deal on Sunday to phase out 5.8 million barrels per day of oil production cuts by September 2022. thanks A CNBC out doing hedge fund short sellers bidding again it looks like. Manufacturing a sell off
Source: CNBC - 🏆 12. / 72 Read more »