Embarcadero Technologies, Inc. (NDAQ:EMBT) shares rose more than 2% today after the company announced a definitive merger agreement with private equity firm Thoma Cressey Bravo in a transaction worth $7.20 per share, or $200 million, in cash. We first
mentioned this company back in mid-March when the company has trading at around $6.60 per share, representing a 9% gain in under one month! Chapman Capital had been pressuring the company to put itself up for sale in order to unlock shareholder value. The hedge fund that averaged in the low $6 range said it would support the transaction.
eSpeed Inc. (NDAQ:ESPD) is another company that the hedge fund is currently targeting as a potential buyout target.
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