StarTek, Inc. (NYSE:SRT) shares are trading higher Tuesday after the company announced an agreement to be acquired by funds managed by CSP Management Limited for $4.30 per share in cash.
What To Know: CSP will acquire all shares of Startek common stock not already owned by CSP for $4.30 per share in cash. The all-cash transaction has a total enterprise value of approximately $217 million and total equity value of approximately $174 million.
Trading of the stock was halted and then resumed early in Tuesday’s session. Also, according to data from Benzinga Pro, the stock experienced above-average trading volume of 877,491 shares compared to its average volume of 31,152.
Barrington Research analyst Christopher Howe downgraded StarTek from Outperform to Market Perform on Tuesday as well.
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SRT Price Action: Shares of SRT were up 29.1% at $4.21 at the time of publication, according to Benzinga Pro.
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