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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.
SRT Price Action: Shares of SRT were up 29.1% at $4.21 at the time of publication, according to Benzinga Pro.
Posted In: SRT
