Diamond Management & Technology Consultants Inc. (NASDAQ: DTPI) skyrocketed this morning in pre-market trading on news that PricewaterhouseCoopers LLP would buy the company for $378 million, or $12.50 a share. At 8:35 AM EST shares had jumped 30.82%, from $9.54 to $12.48, and has already traded 3,076,220 shares. This is a much greater amount than the company’s average of 224,914.
The deal aims to expand PwC’s advisory business. With unanimous approval coming from both company’s boards, the deal is expected to go through in Q4.
-Michael B. Sauter