SunEdison Semiconductor +38% after agreeing to be bought out by GlobalWafers in $683M deal

• The companies announced the $12 per-share buyout yesterday evening (a 45% premium over the day's closing price).
• The arrangement was unanimously approved by both companies' board of directors.
• SunEdison Semiconductor (NYSEARCA:SEMI-OLD +38.5%) CEO Shaker Sadasivam: "We believe this transaction is in the best interest of our company.  We look forward to a smooth process to facilitate an efficient closing, which we hope can occur before the end of the year."
• Johnson & Weaver, LLP, a shareholder rights law firm based in San Diego, has subsequently launched an investigation into the price of the transaction.
• SunEdison Semiconductor is up more than 155% over the last three months.