BySiladitya Ray,
Forbes Staff.
Shares of Trump Media soared more than 36% before paring back gains after the company announced an all-stock merger agreement with TAE Technologies in a deal valued at “more than $6 billion,” according to the firms.
In a press release, the companies said the merger will be carried out through an all-stock transaction under which shareholders of each company will own around 50% of the combined company.
Shares of Trump Media rose as high as $14 Thursday, a more than 36% rise, as the company announced a merger deal to build the “world’s first utility-scale fusion power plant.”
