Quoting informed sources, the Wall Street Journal reported on Monday that soft drink giant Coca-Cola Co (KO) is negotiating with Monster Beverage Corp (MNST) over merger. Boosted by the news, MNST stock price rose more than 28% in the early trading Monday, and its market cap reached the new historical high of $11 billion.
Coca-Cola said late on Monday that the company was not in the discussion with Monster Beverage over the acquisition. Then, MNST stock price dove sharply to close at $65 per share, a decrease of 0.81%, or $0.53 compared to the last trading day closing price.