Confluent soars on IBM's $11 billion takeover deal

Shares of data-streaming platform Confluent CFLT.O jump 29% to $29.86

IBM IBM.N to acquire all of CFLT's issued and outstanding common shares for $31 per share, representing a premium of about 50% to stock's closing price of $20.73 on October 7, the last trading session before Reuters first reported its exploration of a sale after attracting acquisition interest

The consideration represents an enterprise value of $11 bln

Shares of IBM down 0.9%

Up to its last close, CFLT had fallen ~17% YTD