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IBM Buying Red Hat In $34 Billion Deal

The Associated Press | by Gary D. Robertson

IBM and Raleigh, N.C.-based open-source softward firm Red Hat said in a joint statement that IBM would buy all Red Hat common shares at $190 apiece — 63% above Red Hat’s closing price Friday. The two companies said the deal, approved by their respective boards, is subject to Red Hat shareholder and regulatory approval and should be completed in the latter half of 2019.