IonQ (IONQ) Jumps to New High as UK Govt OKs $1-Billion Oxford Ionics Acquisition

We recently published 10 Stocks with Surprising Gains. IonQ, Inc. (NYSE:IONQ) is one of the best performers on Friday.

Shares of IonQ propelled to a new record high on Friday following news that it officially secured the green light of the UK government for its $1 billion acquisition of Oxford Ionics.

At intra-day trading, the stock soared to its highest 52-week price of $56.07 before trimming gains to end the day just up by 18.19 percent at $55.61 each.

Having satisfied all regulatory requirements and secured the approval, IonQ, Inc. (NYSE:IONQ) said it was looking forward to closing the deal in the near term.

IonQ, Inc. (NYSE:IONQ) announced the merger plan with Oxford Ionics in June, saying that the move was in line with its plans to expand its research expertise in the quantum computing sector.

Oxford Ionics’ work is focused on novel methods of controlling qubits, the fundamental unit of quantum computers that much of modern quantum research is centered on. Its founders, Chris Balance and Tom Harty, will remain with IonQ, Inc. (NYSE:IONQ) following the completion of the merger.

IonQ, Inc. (NYSE:IONQ) will acquire the company in a mix of cash and stock transaction, with the number of shares depending on its stock price over a 20-day period before the deal closes.

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Disclosure: None. This article is originally published at Insider Monkey.