Stock Alert: Acacia Communications Jumps 30% On New Merger Deal With Cisco

(RTTNews) - Shares of Acacia Communications Inc. (ACIA) surged 30% on Thursday morning after the company announced a new merger deal with Cisco Systems (CSCO) valued at $4.5 billion.

ACIA is currently trading at $113.65, up $27.20 or 31.46%, on the Nasdaq.

The optical component maker said it has agreed a new $4.5 billion merger deal with Cisco after an earlier deal was terminated by a delay in regulatory approval from China.

Cisco will pay $115 per share for Acacia, the company said. Regulators in the U.S., Germany and Austria had cleared the proposed takeover, but a delay in obtaining approval from China before a January 8 deadline caused Acacia to terminate the original deal.