GE Unit to Buy Trustreet
The total value reflects the assumption or refinancing of Trustreet's debt. As for the equity, Trustreet is being valued at $17.05 a share. The transaction should close during the first quarter of 2007.
Shares of Trustreet have a 52-week high of $15.85 and closed Friday at $12.51. Following news of the takeover, the stock jumped nearly 35% to $16.85 early Monday.
Trustreet's customers include Wendy's, Burger King, Jack-In-The-Box, Arby's, Denny's and Pizza Hut franchisees. Trustreet's board unanimously approved the acquisition and recommended that shareholders vote for the purchase.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV