Gramercy Capital Up 15% (GKK)

Gramercy Capital Corp. GKK is up more than 15% this morning on tremendous volume, as it's already traded almost it's entire average daily volume, 35 minutes into trading. This morning GKK announced that SL Green Realty Corp. SLG would purchase investments from Gramercy Capital Corp. for $390.8 million, including the assumption of $265.6 million in debt. At last check, shares of GKK were up 36 cents to $2.62, a gain of 16%.