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Monster shares soar on rumors of Coke deal
Posted: Apr 30, 2012 11:13 AM by The Associated Press (KO)
Monster Beverage Corp.'s shares are gaining on a report that Coca-Cola Co. is considering buying the energy drink maker.
The Wall Street Journal is reporting on its website Monday that the world's biggest soft drink maker is in talks to buy Corona, Calif.-based Monster, citing unnamed people familiar with the matter. If it happens, the deal would be Coca-Cola's largest brand acquisition ever, the report says.
Monster spokeswoman Judy Lin Sfetcu says it is the company's policy not to comment on stock movements or reports of acquisitions.
Coca-Cola, which is based in Atlanta, did not immediately respond to a request for comment.
Monster's stock is one of the top gainers on the Nasdaq Monday on the news. Its shares are up roughly 15 percent to $75.25 in midday trading.
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