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 firstname.lastname@example.org
To contact the editor responsible for this story: Robin Ajello at email@example.com