Reuters Shares Rise on Takeover Rumors
The stock jumped roughly 12% today on the speculation.
Shares in financial data company
Reuters
(RTRSY)
soared Tuesday on rumors that the company could be a takeover target.
Reuters jumped 10 1/2, or 12%, to close at 98 3/4 Tuesday.
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Companies mentioned in published reports as possible buyers include British media company and
Financial Times
publisher
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On Monday, the
Financial Times
reported that Reuters has been building up its defenses against a possible takeover bid, which the company feared because of its laggardly share price. Reuters shares hit a 52-week low of 50 1/2 in November before beginning a slow rebound at the end of last year into January.
