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Why PAE Stock Is Rocketing Higher Today

Why PAE Stock Is Rocketing Higher Today

Shares of PAE (NASDAQ: PAE) jumped 68% on Monday morning after the government services company announced plans to be acquired. The company's private equity backer has signed off on the deal, which means the odds are good PAE will soon be taken private. PAE, short for Pacific Architects and Engineers, provides services for the CIA, the U.S. military, civil services, and foreign governments.