Why Harley-Davidson Stock Jumped 19.5% Today

Shares of motorcycle maker Harley-Davidson (NYSE: HOG) jumped as much as 19.5% in trading on Monday after the company announced that its electric-vehicle business will be acquired by a special-purpose acquisition company (SPAC). Shares didn't hold those gains, though, and are up just 5.6% at 2:30 p.m. ET.

This morning, Harley-Davidson announced that LiveWire will be acquired by AEA-Bridges Impact Corp. (NYSE: IMPX). The deal will put an enterprise value of $2.31 billion on the business, including about $600 million in cash expected on the balance sheet. 

Image source: Harley-Davidson.

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Source Fool.com