(Retail takeover poll updated with CKE Restaurants news.)
NEW YORK (
is the most likely takeover target in today's market, according to a recent poll by the
The drugstore has raised eyebrows since
announced its purchase of Duane Reade back in February. The
poll, 60% said Rite Aid will be bought out within the next year.
have been cited as possible suitors, as has
. Private equity it also a viable option, and would give Rite Aid a chance to get rid of its debt and make structural changes out of the public eye.
is also being bandied about as a potential takeover target, with
emerging this week as the lead suitor. Still, just 15.4% of voters believe a deal for Palm will get done.
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This isn't a surprise given how many possible buyers, including
, have already passed on a deal. Fear arose this week that Palm might be unable to find a buyer after it was announced that Michael Abbot, senior vice president of software and services, is leaving the company.
rumors were reinvigorated this week after a BB&T analyst told the
Dallas Business Journal
that the rumors are likely true.
New York Post
broke the RadioShack news earlier this year, and analyst Anthony Chukumba said the paper has a good track record when it comes to reporting these types of acquisitions.
More Takeover News
is being discussed as a possible buyer, as are private-equity concerns. Still, only 12% of voters said a RadioShack takeover is imminent.
On the bottom of the spectrum, a mere 7.6% of voters said a
acquisition will happen, while a scant 5% believe
is poised for a buyout.
CKE said on Monday that it will accept a bid from Apollo Management. The private-equity firm offered the restaurant $12.55 a share, or $694 million, which surpasses a prior offer from Thomas H. Lee Partners.
In February, CKE accepted an offer from private-equity firm Thomas H. Lee, but had 40 days to seek higher bids. Under the terms of the deal, Thomas H. Lee would pay $11.05 a share and would assume $309 million of CKE's debt.
CKE said it notified Thomas H. Lee on Saturday terminating their agreement.
-- Reported by Jeanine Poggi in New York.
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