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Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) rose as much as 16% in Monday trading on the Toronto Stock Exchange after the company confirmed it has been eying the sale of its automotive fuel cell unit.

Reuters reported as such last Friday in a story that said Daimler AG (DCX) would buy the Vancouver-based company's auto fuel cell business.

Ballard said Monday that uncertain project timelines and rising development costs have led to talks of a sale with both Ford Motor Co. (NYSE:F) and Daimler.

BLDP 1-yr chart:

Source: Ballard Power Jumps On Possibility Of Unit Sale