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The GHC Stock Has Been Moving Higher In Early Trades Today. Why?

LPTX Stock

LPTX Stock

At last check, Graham Holdings Company (GHC) shares were trading at $594.47, up 3.53% from the closing price in early trades today.

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A share of Graham Holdings closed the previous session at $574.21, after gaining +2.09%. During the past 12 months, the GHC stock has risen by 75.56%, and it has declined by -0.21% over the past week. It is worth noting that GHC’s stock has increased 9.63% and 42.09% over the past three and six months.

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The GHC also has a market capitalization of $2.81 billion and its outstanding shares amounted to 4.97 million. An acquisition deal to purchase an internet company has expectedly been boosting the GHC stock.

What has the GHC been acquiring?

Graham Holdings is a diversified holding company that focuses on multiple segments that include TV broadcasting, internet, local news, home health care, and restaurants. GHC owns Kaplan, The Slate Group, Graham Media Group, Pinna, and Foreign Policy.

GHC is also the parent company of Code3 and Decile, Dekko, Graham Healthcare Group, Hoover Treated Wood Products, Forney Corporation, and Joyce/Dayton Corporation. It also owns Jeep of Bethesda and Clyde’s Restaurant Group, Framebridge, Inc., and CyberVista.

A Graham Holdings announcement today stated that it has agreed to acquire all of Leaf Group Limited (LEAF) outstanding common shares.

When GHC will complete the transaction?

Approval of Leaf Group shareholders, regulatory approval, and completion of other closing conditions by Graham Holdings (GHC) are the pre requisite for the transaction to be completed. GHC expects the transaction to close in June or July of 2021.

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