RTTNews | Jan 14, 2021 10:02AM EST

10:01 Thursday, January 14, 2021 (RTTNews.com) - Shares of Acacia Communications Inc. (ACIA) surged 30% on Thursday morning after the company announced a new merger deal with Cisco Systems (CSCO) valued at $4.5 billion.

ACIA is currently trading at $113.65, up $27.20 or 31.46%, on the Nasdaq.

The optical component maker said it has agreed a new $4.5 billion merger deal with Cisco after an earlier deal was terminated by a delay in regulatory approval from China.

Cisco will pay $115 per share for Acacia, the company said. Regulators in the U.S., Germany and Austria had cleared the proposed takeover, but a delay in obtaining approval from China before a January 8 deadline caused Acacia to terminate the original deal.

Read the original article on RTTNews ( https://www.rttnews.com/3160658/stock-alert-acacia-communications-jumps-30-on-new-merger-deal-with-cisco.aspx)

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