Textron (TXT) Losses Steam After Friday's Rumor Run-Up

Friday's takeover rumor high-flyer Textron Inc. (NYSE: TXT) is getting hit today as no merger deal was announced. Shares of Textron are down 15% today.

Textron jumped 49% on Friday on reports a consortium of United Arab Emirates companies and a Kuwaiti firm was preparing a $21 per share offering for the company.

The NYSE requested the company to respond to the unusual activity in the stock. The company said they do not comment on market rumors.

Despite the noise, analysts at Citi think the stock is worth at least $15 per share.

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