Kirkland Lake Gold (NYSE:KL) stock is shining brighter on Monday following rumors that the company is planning to sell itself.
These Kirkland Lake Gold rumors come from IKN News and state that the company is currently negotiating between four buyers. However, it notes that one of these potential purchasers is a clear favorite to seal the deal.
According to the rumors, talks for a Kirkland Lake Gold sale are currently in the advanced stages. It’s still unclear who the potential buyers are or how much they are offering to acquire Kirkland Lake Gold.
IKN News says the following about the rumored deal in its exclusive coverage.
“This deal could be announced at any moment and is the driving force behind KL’s share price out-performance these last two weeks; the serious money has been accumulating in front of M&A.”
It’s true that KL stock has been trending higher over the last couple of weeks. However, it’s also worth pointing out that the company’s shares have also been on the rise since March. Even so, the upcoming sale could explain the stock’s increase in price.
KL stock is catching the eyes of investors today with heavy trading. As of this writing, more than 2 million shares of the stock have changed hands. That’s already well above the company’s daily average trading volume of about 1.5 million shares.
KL stock was up 5.2% as of Monday afternoon but is only up slightly since the start of the year.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.