Why Tortoise Acquisition Stock Surged Today

Shares of Tortoise Acquisition (NYSE: SHLL) were trading higher on Tuesday afternoon. The special purpose acquisition company is set to merge with electric truck drivetrain maker Hyliion, and it confirmed on Tuesday that its shareholders will vote on the merger proposal on Sept. 28.

As of 2:45 p.m. EDT, Tortoise's shares were up about 13.7% from Monday's closing price.

Tortoise said in a statement on Tuesday morning that it will hold a special meeting of shareholders on Monday, Sept. 28. At that meeting, its shareholders will vote on several proposals related to the plan to merge the company with Hyliion, including the merger itself.

Source Fool.com