Retail stocks rise; RadioShack reportedly on the block |
| MarketWatch - Mar 26, 2010 |
Retail stocks rose Friday, led by RadioShack Corp., after the electronics retailer was reportedly exploring alternatives including a possible sale that could get it more than $3 billion. Finish Line Inc. also rose after it reported better-than-expected fourth-quarter profit and sales.
RadioShack /quotes/comstock/13*!rsh/quotes/nls/rsh (RSH 23.71, +1.91, +8.76%) shares rose 7.2% to $23.36. The New York Post, citing unidentified people familiar with the situation, said the company is exploring strategic alternatives including a possible sale that could get it more than $3 billion. Investment bankers have already started to talk to private-equity firms about a possible leveraged buyout of the electronics retailer, the Post cited unidentified sources as saying. A merger with Best Buy Co. /quotes/comstock/13*!bby/quotes/nls/bby (BBY 43.28, +0.62, +1.45%) could also be possible, the paper reported.
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- Posted: 2010-03-26 10:32:32
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