Wednesday, January 25, 2012

Collective Brands Rallies On Takeover Speculation

Shares of Collective Brands (NYSE: PSS) climbed more than 2% on Wednesday on continued speculation that the company could be a takeover target. The New York Post reported recently that the company could be bought around $20/share. Citing sources close to the situation, the NYPost said the company is aiming to be sold as a whole rather than in parts. Among possible suitors: Wolverine Worldwide (NYSE: WWW) in combination with a PE firm such as Sun Capital or Golden Gate or a combination between Brown Shoe (NYSE: BWS), Finish Line (Nasdaq: FINL) and several other private-equity parties.

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