Yahoo Finance 
AOL is going bananas
(Justing Sullivan/Getty Images)
AOL shares are up more than 18% following news that the company is being acquired by Verizon.
On Tuesday morning, Verizon announced it will acquire AOL for $4.4 billion, or $50 per share.
That's a 17% premium over AOL's Monday closing price of $42.59.
Verizon shares, in contrast, were lower after the deal, falling as much as 1.5% in pre-market trade.
AOL shares have rallied nearly 13% over the past 12 months, and they're down 7% year-to-date.
Shares also rallied after AOL posted strong first-quarter earnings on Friday.
(Google Finance)
Read all about the deal here »
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