RadioShack Rises on Takeover Chatter
Shares rose Wednesday on rumors of a possible takeover of the electronics chain.
FORT WORTH, Texas (
) -
RadioShack
(RSH)
shares rose Wednesday on rumors of a possible takeover of the electronics chain.
The stock rose $1.16, or 5.84%, to close Wednesday at $21.03, near its 52-week high of $21.56.
Some reports say RadioShack could be acquired by an investment firm in a leveraged buyout.
On Wednesday's "Stop Trading!" segment on
CNBC
, Jim Cramer said
is "flush with cash." Cramer said the company is an "LBO waiting to happen."
Options volume on RadioShack surged on Wednesday.
William Lefkowitz, options strategist at brokerage firm vFinance Investments, told
Reuters
that Apollo Management was cited as one possible suitor.
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