Avocent Receives $1.2 Billion Bid

Avocent Corp. (Nasdaq: AVCT) received a $1.2 billion cash bid from Emerson Electric Co. (NYSE: EMR) further consolidating the data storage industry. Shares of Avocent leaped $4.32 to $24.84 while Emerson stock edged up 49 cents to $39.17.

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