By Adriano Marchese
Very Good Food Co. shares jumped Thursday morning after the company said it is considering selling its business or merging with another as it conducts a strategic review.
At 9:55 a.m. ET, shares were trading nearly 26% higher, at 25 Canadian cents (19 U.S. cents).
The B.C.-based plant-based-meat and vegan-cheese company said that the sale to or a merger with an industry partner is being considered as it evaluates potential strategic alternatives to maximize shareholder value.
Very Good Food noted that it hasn't yet completed its review process, and said that it hasn't set a timeline for its completion either.
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