MetLife Releases Loan Details and 3 Stocks At 52-Week Highs
MakeMusic (NASDAQ:MMUS): Closing price $4.85
MakeMusic and LaunchEquity Acquisition Partners, and the latter’s affiliate Designated Series Education Partners, have reached a deal through which LEAP will purchase MakeMusic in an all-cash transaction. Under the terms of the arrangement, LEAP, through a wholly-owned subsidiary, will initiate a tender offer to buy all outstanding shares of MakeMusic at $4.85 per share, which represents a bonus of about 31 percent over the close on March 12, the last trading day prior to the announcement. As of the date of the agreement, LEAP beneficially owned around 27.8 percent of MakeMusic’s outstanding common stock. The transaction should close in the second quarter, and is not subject to any financing contingencies. Shares closed up 31.08 percent on the day at $4.85, and have been traded in a 52-week range of $2.99 to $4.90.