Acquisition Spurs Core
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Core Inc. stock jumped 31% Wednesday, a day after the Irvine company announced it had completed the acquisition of Disability Reinsurance Management Services for $20 million in cash, 480,000 common shares and other consideration based on future earnings.
Analyst Kathleen M. Miner at SG Cowen also raised her recommendation on the stock to “buy” from “neutral.”
The company’s shares rose $1.38 to $5.88.
Core provides managed-disability and health-care benefit management services.
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