Shares of Artio Global Investors stock soar today based on news that the firm had agreed to be purchased by U.K. based Aberdeen Asset Management. The stock (ART), which was the second biggest gainer on the NYSE ended the day at $2.74, a 33.66% rise in the stock price from the previous day.
The acquiring firm, Aberdeen, has over $300 billion in "assets under management" and is executing a strategic acquisition plan to diversify its group of funds.
The acquisition still needs to be approved by government agencies and Artio Global Investors’ shareholders.[related2][/related2]