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Why Shaw Communications Stock Soared on Monday

TheMotleyFool

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Why Shaw Communications Stock Soared on MondayPhoto, wide shot, wide-angle lens, Cable TV provider, Midday, harsh overhead sunlight, directional sunlightt, photo by Marc Adamus: https://img.midjourneyapi.xyz/temp/51ec7f0d-2b5e-41f6-baa4-43bf0f5d7e7d.png

Shares of cable and wireless telecommunications company Shaw Communications (NYSE: SJR) surged on Monday. The stock rose as much as 46%. As of 2:45 p.m. EDT, however, the stock was up 38%.

The stock soared on news that telecommunications specialist Rogers Communications (NYSE: RCI) agreed to acquire all outstanding shares of Shaw as part of a merger.

Image source: Getty Images.

Source Fool.com

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