Marfrig shares soar after merger announcement with BRF

Marfrig shares led gains on the Ibovespa and were among the most traded on the B3 exchange last Friday (16), outperforming the cautious domestic market and the main Brazilian stock index, which closed in the red. On Friday, Marfrig’s shares surged 21.35% to R$ 25.07. At the day’s peak, shares were up 26% within the first hour of trading. At the same time, the Ibovespa fell 1% to the 137,000-point level. The strong bullish sentiment around the stock was largely driven by the proposed merger with BRF.