BRF SA (BRFS) Surges 7.58% After Ending Losing Streak with Marfrig Merger Deal

BRF S.A. (NYSE:BRFS) surged 7.58% on Monday, ending a three-day losing streak following the end of a 21-day suspension of a shareholder meeting where a merger deal with Marfrig is expected to be voted on. The meeting was originally scheduled for June 18 but was postponed due to requests from the Brazilian Securities Commission.

The securities watchdog rejected a request to cancel the meeting but granted a 21-day postponement. The proposed merger between BRF S.A. and Marfrig has already received approval from the antitrust authority in Brazil. Marfrig is the majority stakeholder of BRF S.A., with both companies sharing the same chairman.

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Read more at Yahoo Finance: BRF SA (BRFS) Ends Losing Streak, Surges 7.58% on Marfrig Merger Deal