Collective Brands (PSS) Shares Continue Higher as PE Speculation Heats Up

January 25, 2012 1:19 PM EST
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Shares of Collective Brands (NYSE: PSS) are continuing higher Wednesday as private-equity rumors continue to be heard around the Street. After jumping more than 6 percent on Tuesday, the stock is up nearly 5 percent this afternoon. Shares last traded at $16.64.

The NYPost earlier issued an article suggesting the company could be bought around $20/share. This latest rumor comes in contrast to recent rumors a sale could approach the $27/share level.

Citing sources close to the situation, the NYPost said the company is aiming to be sold as a whole rather than in parts. Among possible suitors: Wolverine Worldwide (NYSE: WWW) in combination with a PE firm such as Sun Capital or Golden Gate or a combination between Brown Shoe (NYSE: BWS), Finish Line (Nasdaq: FINL) and several other private-equity parties.

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