According to a Dow Jones report, quoting a Kuwaiti newspaper, a consortium of companies from the United Arab Emirates is planning to make an acquisition offer to U.S.-based aircraft and defense contractor Textron Inc. (TXT).
Quoting an unidentified source, the report claims that the consortium will offer $21 per share for Textron, which would be more than a 100% markup on the company's current share price.
Shares of Textron closed Wednesday trading at the $9.11 level, and, fueled by the buyout rumors, skyrocketed to $13.10 per share in early trading Thursday. Textron was the subject of another takeover rumor recently, that time by Lockheed Martin Corp. (LMT), but that rumor was subsequently shot down.
the article must be tongue in cheek?
ReplyDelete"skyrocketed" and "fueled" and "shot down"???
LOL