Shoppers earnings Shoppers Drug Mart (TSX: T.SC, Stock Forum) posted quarterly earnings of $147 million or 73 cents a share, one cent above a consensus estimate and its shares added 1% to $60.89.
The Shoppers board and management are supporting a $12.4-billion takeover offer from Loblaw Companies Ltd. (TSX: T.L, Stock Forum), announced earlier this week.
At current levels, Shoppers has a market cap of $12.2 billion, based on 200.9 million shares outstanding. The 52-week range is $61.71 and $40.03.
Loblaw rose 0.64% to $48.97 Thursday, leaving the company with a market cap of $13.8 billion, based on 282.9 million shares outstanding. The 52-week range is $52.06 and $31.15.