Weight Watchers (WTW) Said to Attract Activist Fund

Weight Watchers International (NYSE: WTW) could move higher Monday following news that the company may attract takeover interest.

The NY Post said that an activist hedge fund is taking a look at Weight Watchers, which lost about 86 percent of its market cap through the first half of 2015. The fund is said to have recently purchased about $144 million of Senior Loans remaining due April 2016. Cash on hand for Weight Watchers was recently disclosed at $130 million.

In total, Weight Watchers could be taken over for around $2 billion.

Shares of Weight Watchers are flat in early trading.

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