8-Times Volume Surge: IONA (IONA, PRGS)

Posted in General 
June 25th, 2008

We have just seen an eight-times volume spike in IONA Technologies plc (NASDAQ: IONA) in the first 15 minutes of trading today.  Shares are up 9.4% at $3.94 on well over 500,000 shares at 9:45 AM EST.  Progress Software (NASDAQ: PRGS) is acquiring the company for $4.05 per share in a cash buyout.  Full details can be seen here on the merger terms.

Avg. Volume:      68,000 shares
52-week range:  $2.01 to $6.28
OPTIONS:            NO

Jon Ogg
June 25, 2008

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