Shares of Reis Inc. REIS, +32.19% rocketed 32% to pace all premarket gainers Thursday, after the commercial real estate data company announced an agreement to be acquired by Moody's Corp. MCO, +0.18% in a cash deal valued at $278 million. Under terms of the deal, Moody's will pay $23 a share for each Reis share outstanding, which is 32% above Wednesday's closing price of $17.40, but below the July 12 two-year closing high of $23.85. After the deal closes, which is expected to occur during the fourth quarter of 2018, Reis will become a wholly-owned subsidiary of Moody's. Reis's stock had tumbled 19.8% over the past three months through Wednesday, while Moody's shares had gained 1.7% and the S&P 500 SPX, -0.50% had advanced 7.0%.
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