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SHARES IN THE SPORTS AUTHORITY UP AMID TAKEOVER TALKS
Published October 10, 1997
Shares in The Sports Authority "are pumped up" over speculation that the FL-based chain "is a takeover target," according to Richard Wilner of the N.Y. POST. The company closed yesterday at a 52-week high of 21 11/16 and shares are up "nearly" 21% percent since October 3. Wilner: "Industry rumors said Woolworth, whose Foot Locker athletic footwear chain has cooled and who is looking to grow its Champs Sports chain, was on the prowl. Woolworth did not address the Sports Authority rumors but said it planned to make acquisitions down the road." Wilner adds that "despite persistent rumors, people close" to The Sports Authority said "it's not interested in selling" (N.Y. POST, 10/10).