TNS Inc. (NYSE: TNS), an international data communications company providing networking, managed connectivity, data communications and value added services, is marginally higher in mid-day trading today following Tuesday’s huge rally.
TNS had finished more than 42% higher on Tuesday after the company agreed to be acquired by an investor group led by Siris Capital in a deal valued at $862 million. Siris, which is a private equity firm, agreed to pay $21 per share in cash to acquire TNS. The transaction represents a premium of 47% over TNS’s average price over the past 30 days.
TNS is currently trading 0.14% higher at $20.79 on above average volume of 571,545.
Sirius XM Radio Inc. (NASDAQ: SIRI), the New York City-based satellite radio company with over 20 million subscribers, is fluctuating between gains and losses in trading today. SIRI is currently trading 0.27% lower at $2.72 on volume of 11.66 million, which is significantly below the daily average volume of 74.02 million.
SIRI had risen sharply last week after the company announced a special dividend and a stock buyback program. However, the stock failed to break through $2.80, which has been a stiff resistance level in recent weeks. If SIRI can break through this level then there could be some upside potential.
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