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Why ZIM Integrated Shipping Services Stock Surged Today

TheMotleyFool

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Why ZIM Integrated Shipping Services Stock Surged Today: https://g.foolcdn.com/editorial/images/856756/shipping-stocks-gettyimages-1357380718-1901x1037-c7ef2fc.jpg

Shares of ZIM Integrated Shipping Services (NYSE: ZIM) popped on Tuesday after the Israeli cargo carrier struck a deal to be acquired by larger rival Hapag-Lloyd (OTC: HPGLY).

By the close of trading, ZIM's stock price was up more than 25% after rising as much as 35% earlier in the day.

Image source: Getty Images.

Source Fool.com