Why SurveyMonkey Parent Momentive Global (MNTV) Shares Are Trading Higher Today

A consortium led by Symphony Technology Group agreed to snap SurveyMonkey parent Momentive Global Inc MNTV in a transaction worth $1.5 billion.
Momentive shareholders will receive $9.46 per share, representing a premium of 46% to the company's closing stock price on the day before media rumors regarding a potential sale on October 19, 2022.
"The transaction is the result of an extensive and careful process to review strategic alternatives by the Momentive board. The board believes this is the right path for delivering certain and attractive value for shareholders," said David Ebersman, Chair of the Momentive Board. "The Momentive board voted unanimously in favor of the transaction."
The transaction will likely close in the second or third quarter of 2023.
Momentive's common stock will no longer trade on any public market.
The company will continue to operate under the Momentive name and Momentive and SurveyMonkey brands.
Price Action: MNTV shares traded higher by 19.90% at $9.26 in the premarket on the last check Tuesday.
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Why SurveyMonkey Parent Momentive Global Shares Are Trading Higher Today?