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Reuters: Red Hat surges on deal speculation

Nov 30, 1999, 04:06 (0 Talkback[s])
(Other stories by Therese Poletti)

"Shares of Red Hat Inc., the largest distributor of the upstart Linux operating system, surged another 11 percent on Monday amid talk that the company is poised to make more acquisitions, as it seeks to become a competitive threat to Microsoft Corp. .

"Since last Tuesday, shares of the Research Triangle Park, N.C.-based company, which has a red fedora as its logo, have soared 95 percent. Red Hat was the first company in the Linux area to go public, in a successful public offering last August.

"On Monday, its shares climbed 23-1/8 to 236-5/8, giving the company a market capitalization of over $15 billion. The stock was initially priced at $14 a share..."

Complete story.