As Brooks Automation Inc.’s $440 million planned takeout of PRI Automation Inc. lingers in second-request limbo, the Street sees no other outcome but the transaction flying. Indeed, although $850 million market cap Brooks has pushed back the expected closing of the deal more than once, the market has kept the planned stock swap trading at around a spread of a mere 20 cents. At press time, PRI stock closed at $21.25 per share, 24 cents below its value in the deal, which exchanges each PRI share for 0.52 Brooks shares. Brooks shares closed at $41.32 each at press time.
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