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Amerigon Shares Up After Agreeing To Buy Stake In WET Automo

Financial News Network
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March 01, 2011 AT 5:41 AM
Amerigon Inc. (NASDAQ:ARGN) shares are trading 11.23% higher at $12.88 after the company agreed to by a 75.6% stake of W.E.T. Automotive Systems for 40 euros per share, according to a Bloomberg report.The company has plans for a tender offer for the remaining voting shares at the same price.Amerigon has a potential upside of 15.9% based on a current price of $12.94 and an average consensus analyst price target of $15.