Comverge (COMV -8%) agrees to be acquired by PE firm HIG Capital for ~$49M, or $1.75/share,...

|By:, SA News Editor

Comverge (COMV -8%) agrees to be acquired by PE firm HIG Capital for ~$49M, or $1.75/share, below its $1.88 Friday closing price and analyst estimates of its worth. COMV felt it had no choice, believing it "would be unable to raise the necessary capital to fund continuing operations, which would place existing stockholder investment in the company at significant risk."