Major Premium Buyout at Home Diagnostics, A Return To Old Prices (HDIX)

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By Douglas A. McIntyre Updated Published
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Home Diagnostics, Inc. (NASDAQ: HDIX) is this morning’s top pre-market gainer, on news of a buyout.  The company has agreed to be acquired by Nipro Corporation for $11.50 per share in a $215 million buyout.  This represents about a 90% premium to yesterday and about an 83% premium to the average closing price for the last 90 days.

The company makes blood glucose monitoring systems and disposable supplies for people with diabetes. If you wonder how the price was determined, this stock came public in late-2006 and briefly traded above $12.00 in 2006 and 2007.

At 8:27 AM EST we have seen some 1.12 million shares trade hands versus an average daily volume of only about 26,600 shares.  The stock is up 89% at $11.47 and the prior 52-week trading range is $4.62 to $7.71.

JON C. OGG

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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