Small-cap stocks outperformed the broader market amid takeout news and positive analyst research.
CKX (CKXE Quote), which holds image rights to Elvis Presley and Muhammad Ali, as well as proprietary rights to the American Idol series, soared 35.2% to $14.37 after agreeing to be taken private by Chief Executive Robert Sillerman and Simon Fuller (CEO of a CKX subsidiary) for $13.75 a share in cash. Investors will also receive shares in Sillerman affiliate FX Luxury Realty, which is expected to develop Las Vegas attractions using certain rights related to Elvis and Muhammad Ali.
Everlast Worldwide (EVST Quote) leapt 13.4% to $26.25 after agreeing to sell itself to The Hidary Group for $26.50 a share in cash -- a 14.5% premium to the New York boxing-equipment maker's latest closing price. The $146 million deal should close during the third quarter. ...
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