Nokia Stock in Play on Reported Takeover Attempt
One-time Finnish tech star Nokia (NYSE: NOK) has been hit hard by the coronavirus pandemic. Nokia stock has bounced back, however, gaining roughly 43% from mid-March to mid-April.
Today, investors learned that some of that rally might have been due to buying in a hostile takeover attempt. Nokia shares shot up more than 13% in early trading Thursday, and closed up 7.4%, following a report from online telecom journal TMT Finance that an unknown bidder was seeking to acquire parts or all of Nokia via a hostile takeover.
Someone's ringing up Nokia -- but the company seems inclined to decline. Image source: Getty Images.
Source Fool.com
