After three day trading halt.
JB Hi-Fi shares soared by 7%, reaching $30.77 at 10:15am on Friday morning, following its trading halt on Tuesday due to The Good Guys acquisition announcement.
Fat Prophets head of research, Greg Smith told Appliance Retailer the jump in share price is a positive early sign for JB Hi-Fi.
“It indicates market support for a transformational deal that will create a new serious player in the retail industry. Both retailers have a good track record and well-managed business, although it is early days to predict how the integration will progress and play out.
“However, historically, JB Hi-Fi has provided shareholders with conservative forecasts, so I anticipate that the deal could deliver better synergies and financial forecasts than anticipated by the retailer in the announcement on Tuesday,” he explained.