CommerceHub Inc. said Tuesday it agreed to be acquired by private-equity firm Sycamore Partners in a cash deal valued at $1.1 billion. Under terms of the deal, holders of the distributed commerce network’s shares will receive $22.75 a share, which is 24.5% above Monday’s closing price of $18.27 for the Series A shares. The deal is expected to close in the third quarter of 2018. CommerceHub’s shares are halted for news, and are set to resume trading at 8:30 a.m. ET. The Series A shares have tumbled 16.3% over the past three months, while the SPDR S&P Retail ETF has gained 3.2% and the S&P 500 has advanced 3.5%.
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