Bloomberg News

Liz Claiborne Surges After WSJ Reports Talks With Buyout Firms

March 30, 2012

Liz Claiborne Inc. (LIZ:US) rose the most in more than five months after the Wall Street Journal reported that the retailer had held talks with private-equity firms about a possible buyout at about $20 a share.

The shares climbed 14 percent to $13.45 at 2:08 p.m. in New York after earlier rising as much as 30 percent, the biggest intraday gain since Oct. 12.

While Liz Claiborne isn’t currently considering a sale, KKR & Co. (KKR:US), Permira and Warburg Pincus LLC remain interested in taking the company private, the newspaper reported today, citing people familiar with the matter.

Jane Randel, a spokeswoman for New York-based Liz Claiborne, didn’t immediately return a phone call seeking comment.

To contact the reporter on this story: Cotten Timberlake in Washington at ctimberlake@bloomberg.net

To contact the editor responsible for this story: Robin Ajello at rajello@bloomberg.net


Race, Class, and the Future of Ferguson
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Companies Mentioned

  • KKR
    (KKR & Co LP)
    • $22.94 USD
    • -0.06
    • -0.26%
Market data is delayed at least 15 minutes.
 
blog comments powered by Disqus