Why Is Allego (ALLG) Stock Up 128% Today?

Allego (NYSE:ALLG) stock is rocketing higher on Monday after the company confirmed a deal with Meridiam for all outstanding shares of its stock.Meridiam will acquire all outstanding shares of ALLG stock for $1.70 each with cash. This represents a 131% premium to the closing price of 74 cents per share for Allego stock on Friday.Following this tender offer, Allego has agreed to delist its shares from the New York Stock Exchange. Additionally, any investors that don’t tender their shares in this offer will re ...