The owners of the Sacramento Kings basketball franchise have struck a deal to sell the sought-after California team to an local investor group led by tech titan Vivek Ranadive, a spokesman for Sacramento Mayor Kevin Johnson said on Friday. The deal by an investor group that includes former Facebook Inc executive Chris Kelly and 24-Hour Fitness founder Mark Mastrov, among others, comes after the National Basketball Association denied a proposal to move the Kings franchise to Seattle following months of bitter wrangling among potential suitors.
Facebook, Inc. (Facebook) is engaged in building products to create utility for users, developers, and advertisers. Shares of FB traded higher by 1.53% or $0.4/share to $26.53. In the past year, the shares have traded as low as $17.55 and as high as $45.00. On average, 45116100 shares of FB exchange hands on a given day and today's volume is recorded at 15600548.
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