Millions of People Will Be Blindsided in 2022. Will You Be One of Them?

On December 7, Louis Navellier, Eric Fry & Luke Lango will reveal the major events that will rock the markets in 2022. Will your money be safe?

Tue, December 7 at 7:00PM ET
 
 
 
 

Reachlocal (RLOC) Stock Skyrockets on Gannett’s (GCI) Acquisition Plans

Gannett Co Inc (NYSE:GCI) has agreed to acquire ReachLocal Inc. (NASDAQ:RLOC).

ReachLocalThe media company announced that the move will help it bolster its digital branch as ReachLocal helps offer marketing solutions for local businesses, putting them in touch with major tech firms.

Gannett will shell out about $4.60 a share for the company, or about $156 million. The deal marks a 188% premium over ReachLocal’s Monday closing price.

Both board of directors approved the deal unanimously, which is slated to close in the third quarter of Gannett’s current fiscal year.

GCI shares fell 1.8% on the move. RLOC stock skyrocketed 173.5% Tuesday.

More From InvestorPlace


Article printed from InvestorPlace Media, https://investorplace.com/2016/06/reachlocal-rloc-stock-skyrockets-gannetts-gci-acquisition-plans/.

©2021 InvestorPlace Media, LLC