Stock Market Alert - ARRS had a rough session on Monday, trading down over 9% to close the regular session at $13.91 after Ericsson announced that they were putting in a bid for Norway’s Tandberg Television. Ericsson’s bid came in 18.2% above ARRS’s bid, and analysts seem to think that ARRS is unlikely to top this bid and get into a bidding war with Ericsson. The market was disappointed in the counter-bid and punished ARRS, as the market thought that it would have been a great acquisition for ARRS. As I said, ARRS is likely not going to counterbid.
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