These 10 Firms Were Thursday’s Top Performers

3. Tripadvisor Inc. (NASDAQ:TRIP)

Online travel app Tripadvisor (TRIP) saw its share prices surge by 13.91 percent on Thursday to close at $17.93 apiece as investors repositioned portfolios following news that a company placed a higher bid for their acquisition.

Last December, TripAdvisor and its parent struck a merger arrangement allowing TripAdvisor to acquire Liberty TripAdvisor for about $435 million. The companies said the transaction, which was scheduled to close in the second half of this year, aims to simplify TripAdvisor’s capital structure and reduce its outstanding shares.

In a proxy statement filed with the SEC regarding the merger on Thursday, Liberty TripAdvisor called upon its shareholders to approve the proposed transaction in a special meeting of shareholders to be held virtually on a yet-to-be-determined date.