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Why did Goldcorp, Gannett and Canopy Growth jump today – The Motley Fool



Monday was a regular downward day on Wall Street where most indexes moved slightly lower to the beginning of the week. Continuing concerns over the government's interruption remained on the minds of investors, and the imminent start of the earnings season has some market participants nervous about slowing the growth outlook in 2019. Still, some were higher as interest in mergers and acquisitions appeared to increase and Goldcorp [19659002] (NYSE: GG) Gannett (NYSE: GCI) and Canopy Growth (NYSE: CGC) were among the top artists. That's why they did well.

Goldcorp looks gold.

Goldcorps shares increased 7% after the Canada-based mining company reported that it had made a final agreement with Newmont Mining during which Newmont would acquire all Goldcorps shares. Under the agreement, Newmont will give investors 0.328 shares in its share plus a token $ 0.02 cash payment for each Goldcorp share they own, representing a premium of 1

7% based on the respective companies' respective average stock prices over the past 20 days. The merger of what is called Newmont Goldcorp will "create the world's leading gold business with the best assets, people, prospects, and value-added opportunities," said Newmont CEO Gary Goldberg, and the companies see the closure deal by mid-year. [19659007] Mining with trucks and equipment moving ore and materials near a refinery. "src =" https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F507110%2Fgg-mining-site.jpg&w=700&op=resize "/ >

Image source: Goldcorp.

Gannett makes news

Media company Gannett saw its stock 21.5% after receiving an unsolicited takeover bid from private holding MNG Enterprises, which operates under the Digital First Media name and owner A number of newspaper and media properties The bid would have MNG pay Gannett shareholders $ 12 per share in cash, representing a 41% premium to where Gannett stock closed in 2018. MNG asked Gannett to immediately begin discussions to pursue the deal further, and Gannett said it will review the proposal, given the difficulties the publisher has had with price developments in recent years, some investors will see a possible deal as a successful exit to their Gannett investment.

Canopy makes a hemp cargo south of the border

Finally, the shares in Can opy Growth rose 11%. The Canadian cannabis producer said it will build its first US hemp production plant in the Southern Tier region of New York, which has been authorized by government officials to process and produce hemp. At this point, Canopy expects to invest $ 100m. To $ 150m In the facility, and notable officials including Sen. Charles Schumer (D-N.Y.) Commented positively on the company's plans. As the legalization efforts continue in the United States, Canopy and its peers must work hard to exploit the opportunities to expand their reach south of the Canadian border.

Dan Caplinger has no position in any of the mentioned shares. Motley Fool has no position in any of the listed shares. Motley Fool has an information policy.


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