Stock Alert: MDC Partners Jumps 100% As It Reviews Merger Proposal With Stagwell Media

(RTTNews) - Shares of advertising holding company MDC Partners Inc. (MDCA) are surging more than 100% Friday morning after the company said it has formed a special committee to evaluate its merger proposals with Stagwell Media, a leading data-driven digital marketing services firm in the U.S.

"The special committee will act in the best interests of the Company and our shareholders and will evaluate the proposed transaction in partnership with our independent advisors," said Irwin Simon, Lead Independent Director of the Company.

MDCA stock is currently trading at $2.47. It has traded in the range of $1.01- $3.43 in the last one year.