Norway-based cod farmer Statt Torsk's share price nearly doubled on Thursday following its announcement Wednesday that it is considering a possible merger with Norwegian seafood supplier Vesteralen Havbruk.
It shares price closed Thursday trading at NOK 0.57 (€0.05/$0.05) up from NOK 0.27 (€0.02/$0.02) on Aug. 15.
The company's share price has fallen by 73 percent since the beginning of the year.
On Wednesday, Statt Torsk announced it had received a letter of intent from whitefish group Vesteralen Havbruk regarding a potential tie-up between the two companies.
