NEW YORK (
is giving up Tuesday's gains, as the hype surrounding a potential takeover dies down.
On Tuesday buyout chatter resurfaced, this time the rumor was private-equity firm
entered into a definitive agreement to purchase the electronics retailer. Blackstone declined to comment on these rumors.
RadioShack has been the target of a possible acquisition for some time, with past reports also naming
Kohlberg Kravis Roberts
as potential bidders.
Shares of RadioShack are among the biggest decliners on the New York Stock Exchange, plunging 6.6% to $20.99 in morning trading. On Tuesday the stock gained as much as 7.6%.
-- Reported by Jeanine Poggi in New York.
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