What Happened?

Shares of air cargo transportation and logistics provider Air Transport Services Group (NASDAQ:ATSG) jumped 27% in the afternoon session after the company agreed to be acquired by investment firm Stonepeak in an all-cash deal valued at approximately $3.1 billion. The acquisition price represents a 29% premium to the company's closing stock price before any news or speculation of the acquisition was known. 

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What The Market Is Telling Us

Air Transport Services’s shares are quite volatile and have had 18 moves greater than 5% over the last year. But moves this big are rare even for Air Transport Services and indicate this news significantly impacted the market’s perception of the business.

Air Transport Services is up 32.8% since the beginning of the year, and at $21.94 per share, it is trading close to its 52-week high of $22 from November 2024. Investors who bought $1,000 worth of Air Transport Services’s shares 5 years ago would now be looking at an investment worth $1,009.

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