Here's Why Shares of GNC Ended Wednesday's Session Higher
Shares of GNC were higher Wednesdy on reports that Chinese firms were discussing a takeover of the retailer.
GNC (GNC) - Get Report shares surged Wednesday following reports the health and fitness retailer was in talks to be acquired by Chinese buyers. The Wall Street Journal reports the deal could be worth about $4 billion, including the company's debt. GNC's market cap is about $1.5 billion. 2016 has been a tumultuous year for the retailer after the company unexpectedly changed CEOs amid a sharp fall in revenue. The company's shares fell by 25% immediately following the change and has not been able to recover since.
