Iowa Southern rose 4 1/4 to 39 1/2 after entering a definitive stock swap merger pact with IE Industries.
In national over-the-counter trading yesterday, Iowa Southern shares jumped $4.25, to close at $39.50; IE Industries slipped 75 cents in composite New York Stock Exchange trading, to close at $27.75.
Iowa Southern holders will get 1.6 shares of IE for each share.