Why Ferro Stock Is Soaring Today

Why Ferro Stock Is Soaring Today

Shares of Ferro (NYSE: FOE) were trading more than 22% higher as of 10:45 a.m. EDT on Tuesday. Driving that rally was news that the technology-based coatings and color solutions company had accepted an acquisition proposal. Ferro has accepted a buyout offer of $22 per share from Prince International, a portfolio company of the private equity firm American Securities.