LaserCard (Nasdaq:LCRD) Soars on Assa Abloy (ASSAb.ST) Bid

Investors have been encouraged by some of the recent acquisition activity which has targeted U.S.-based companies, with LaserCard Corp. (Nasdaq:LCRD) being the latest, which received a bid from Assa Abloy (ASSAb.ST) today of $80 million.

Assa Abloy is the largest maker of locks in the world, and is based in Sweden.

The offer of $6.25 a share from Assa Abloy was 40 percent above LaserCard's close on Monday.

LaserCard was trading at $6.2150, up $1.7650, or 39.66 percent, as of 1:45 PM EST.