Cambridge Solutions was locked at the 5 per cent upper circuit and closed on Monday at Rs 62.35. This price spike follows a 75 per cent acquisition in the company by UK-based BPO firm Xchanging for 83 million pounds (about Rs 687 crore).
This values the company at Rs 81.11 a share. As a part of the deal, Xchanging intends to pay Rs 371.2 crore in cash and the balance amount will be funded by issue of Xchanging’s equity (15.2 million shares). The stock touched a low of Rs 61.8 during the day, with volumes of 96,992 (nearly twice its two-week average).
