Restoration Hardware (RSTO) Sinks on Buyout Concerns
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Restoration Hardware Inc. (Nasdaq: RSTO) sank over 36% today on concerns related to the potential takeover of the firm.
In November, Restoration Hardware entered into an agreement to be acquired by an investor group, which included the CEO Gary Friedman, for $6.70.
In addition, Eddie Lampert's Sears Holdings (Nasdaq: SHLD) said it was prepared to offer $6.75 to buy the company. Restoration Hardware and Sears also entered into a confidentiality agreement as disclosed in a 13D filing.
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