99 Cents Only Stores (NDN) Jumps On Reports of New High Bidder
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Shares of 99 Cents Only Stores (NYSE: NDN) are bid higher in early action Thursday following reports in the New York Post that a new high bidder has emerged.
According to the reports, private equity firm Ares Capital has outbid rival Leonard Green in the ongoing auction of the deep-discount retailer.
Ares has made a offer believed to be in the range of $22 per share, which is higher than the roughly $20 per share offer from Leonard Green.
Shares of NDN last traded at $19.79, up 7 percent from Wednesday's close.
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According to the reports, private equity firm Ares Capital has outbid rival Leonard Green in the ongoing auction of the deep-discount retailer.
Ares has made a offer believed to be in the range of $22 per share, which is higher than the roughly $20 per share offer from Leonard Green.
Shares of NDN last traded at $19.79, up 7 percent from Wednesday's close.
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