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) 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) 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. Follow TheStreet.com on Twitter and become a fan on Facebook.