By Colin Kellaher
Shares of Resonant Inc. took flight in premarket trading Tuesday after the provider of radio frequency filter solutions agreed to be acquired by a unit of Japan's Murata Manufacturing Co.
Murata said it would pay $4.50 a share in cash for the shares in Resonant it doesn't already own, more than triple Monday's closing price of $1.23 a share for the Austin, Texas, company.
Murata, which already owns a roughly 4.2% stake in Resonant, said it expects to complete the acquisition by the end of March.
Resonant shares were recently changing hands at $4.38 in premarket trading.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
02-15-22 0632ET