Why ZIM Integrated Shipping Services Stock Surged Today

Seaborne transportation companies are trying to consolidate, but union workers aren't happy.Shares of ZIM Integrated Shipping Services (ZIM +25.45%) popped on Tuesday after the Israeli cargo carrier struck a deal to be acquired by larger rival Hapag-Lloyd (HPGLY 1.65%). By the close of trading, ZIM's stock price was up more than 25% after rising as much as 35% earlier in the day. An enticing offer for ZIM shareholdersUnder the terms of the deal, Hapag-Lloyd will purchase ZIM for $35 per share in cash. That ...