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IKON Office Solutions Jumps In Pre-Market On Buyout News

Wed Aug 27 08:24:00 2008 EDT

(RTTNews) - IKON Office Solutions Inc. (IKN) is soaring during pre-market trading on Wednesday following news that the company has agreed to be acquired by Japan's Ricoh Company, Ltd. for $17.25 per share, or approximately $1.6 billion in cash.

At 8:22 am ET the stock is trading at $17.00 up $1.44 from Tuesday's close.

With the advance, the stock stands to open above recent resistance and at its highest level since January 2007.

For comments and feedback: contact editorial@rttnews.com

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