DivX (DIVX) Shares Soar On the Sonic (SNIC) Merger Announcement

DivX Inc. (DIVX) soared as much as 30 percent to $8.90 on Wednesday, its biggest intraday increase since October 2008, after Novato-based Sonic Solutions Inc. (SNIC) said it agreed to buy for about $323 million in cash the maker of Web video compression technology. Based on Tuesday’s closing prices, the DIVX deal is worth $9.83 [...]