Why General Cable Corporation's Shares Popped 12% Today
Shares of cable manufacturer General Cable Corporation (NYSE: BGC) jumped as much as 12.3% in trading Monday after announcing a strategic review. At 3:50 p.m. EDT, shares were holding at a 10.6% gain on the day.
Management announced that it has engaged investment bankers to explore strategic alternatives, including a sale of the company. In other words, management would like to sell the company if a buyer is willing to meet its price.
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Source: Fool.com
