Why GNC Holdings Inc.'s Shares Popped 32% Today [The Motley Fool]
GNC ACQUISITION HOLDINGS (GNC)
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Source: The Motley Fool
GNC Holdings is getting a big new investor. Travis Hoium ( TMFFlushDraw ) Sep 13, 2018 at 11:36AM What happened Shares of GNC Holdings Inc. ( NYSE:GNC ) jumped as much as 31.5% in trading Thursday after a large investment got the go-ahead to move forward. The stock was holding up nicely, at a 27% gain on the day, at 11:05 a.m. EDT. So what The Committee on Foreign Investment in the United States approved Harbin Pharmaceutical Group Holding's $300 million investment in GNC, which will make it the company's biggest investor. The companies are also forming a joint venture in China to manufacture, market, and sell products there. Image source: Getty Images. Under the February 2018 agreement, Harbin will get $300 million of convertible preferred shares, which convert to common stock at $5.35 per share. The preferred shares will
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