RTTNews | Jun 21, 2021 06:59AM EDT

06:59 Monday, June 21, 2021 (RTTNews.com) - Shares of precision agriculture technology company Raven Industries, Inc. (RAVN) are up more than 48% in pre-market trade on Monday after CNH Industrial N.V. (CNHI) announced its decision to buy Raven in a deal valued at $2.1 billion.

As per the deal, CNH will pay $58 per share to Raven, a 33.6% premium to the 4-week volume-weighted average stock price of Raven.

The deal is expected to close in the fourth quarter of 2021.

RAVN closed Friday's trading at $38.62, down 5.34%. The stock is currently at $57.25.

Read the original article on RTTNews ( https://www.rttnews.com/3203661/stock-alert-raven-industries-surges-48-in-pre-market-on-news-of-acquisition.aspx)

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