Persistent Systems shares slide 7% after $1.14 billion offer to buy Germany's Nagarro

Persistent Systems shares fell about 7% after the IT services firm announced a $1.14 billion (roughly 81 euros per share) offer to acquire German digital engineering company Nagarro. Nagarro's board said it intends to recommend the offer to its shareholders, marking one of the largest outbound acquisitions by an Indian IT mid-cap.