Ennis surges after Wright deal

Ennis

18/07/2018 17:52

** Ennis  EBF.N  shares rallying 14.4 pct to $22.65; EBF on
track for its best day since Sept 2008
    ** Co announced cash and stock deal to merge Wright Business
Graphics into wholly-owned Ennis entity  urn:newsml:reuters.com:*:nASC0A803
    ** Purchase price paid will be 55 pct in cash and 45 pct
stock based on weighted avg share price of Ennis's stock over
past 30 days; deal expected to close on Sept 30
    ** EBF hit session high of $22.98, highest level since Jun
2007; Up to the previous session's close, the shares had fallen
by 4.1 pct YTD
    ** About 252k shares of the Midlothian, Texas-based printing
and printing products co have traded so far today, roughly 2.5x
their 30-DMA
    ** Short interest in Ennis appears low, according to FIS
Astec Analytics data, with ~633k shares on loan, at the low end
of its 52-week range of about 484k-995k   
    



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