CommerceHub +23.8% on $1.1B go-private deal from GTCR, Sycamore

|By:, SA News Editor

CommerceHub (NASDAQ:CHUBA) is up 23.8% out of today's open on news that it's to be taken private in a definitive deal by GTCR and Sycamore Partners, for $1.1B in cash.

Funds affiliated with the two private-equity firms will take over all outstanding shares of CommerceHub's Series A, B and C common stock for $22.75/share, a 24.5% premium to yesterday's Series A close and a 30.2% premium to Series C.

CommerceHub's board has unanimously approved the deal and recommended a vote in favor.

The transaction's expected to close in Q3.

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