RadioShack Falls as Takeover Talk Dies

RadioShack is slipping, as takeover chatter doesn't live up to the hype.
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NEW YORK (

TheStreet

) --

RadioShack

(RSH)

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

Blackstone Group

(BX) - Get Report

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

,

Bain Capital

,

TPG

and

Best Buy

(BBY) - Get Report

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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