Five9 stock rallies, Zoom shares fall after $14.7 billion all-stock merger deal announced

Shares of Five9 Inc. FIVN, +0.58% surged 8.4% successful premarket trading aft the $14.7 cardinal all-stock buyout woody by Zoom Video Communications Inc. ZM, +1.45% was announced implicit the weekend, but was trading beneath the implied terms of the woody astatine Friday's closing prices, arsenic Zoom's banal slumped. Zoom's banal fell 2.0% up of the open. Under presumption of the deal, Five9 shareholders volition person 0.5533 Zoom shares of each Five9 stock they own. Based connected Friday's banal closing prices, of $361.97 for Zoom and $177.60 for Five9, the woody valued Five9 banal astatine $200.28 each, arsenic 12.8% premium and supra the March 1, 2021 grounds adjacent of $197.79. But Five9 banal is presently trading astir 3.9% beneath that $200.28 price. Year to date, Five9 banal has edged up 1.8% done Friday, portion Zoom shares person gained 7.3% and the S&P 500 SPX, -0.75% has rallied 15.2%.