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Tuesday, Jul 17
2012, 2:03 PM
M*Modal (MODL +3.2%), which has agreed to be sold to JPMorgan's P-E arm for $14/share, jumps...
M*Modal (MODL +3.2%), which has agreed to be sold to JPMorgan's P-E arm for $14/share, jumps after disclosing it received a $17/share offer from a competitor it refers to as "Party A," but turned it down due to uncertainty about timing and antitrust issues. There's a good chance the company is Nuance (NUAN -1%), which is already a giant in the clinical transcription space. M*Modal traded as high as $14.99, and is currently moving at $14.51. (previous)