Genesco's stock has soared throughout morning trading on the heels of a favorable court ruling (available at this link) from Chancellor Ellen Hobbs Lyle.
Shares of the local shoe retailer opened the day at $39.38, up nearly 20 percent from yesterday's close of $33.06. Since then shares have settled in $37 range. As of 9:53 a.m. the stock was trading at $37.60, still up a healthy 13.73 percent on heavy volume.
Chancellor Lyle, in her much-anticipated decision, ruled that the merger between Genesco and remorseful Indianapolis-based suitor Finish Line should go forward.
Market-movers |
Mergers & acquisitions |
Genesco Inc. |
Finish Line Inc.
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