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  • WOOLWORTH'S ACQUISITION OF TSA TAKES HIT ON WALL STREET

              Woolworth Corp. "struck out on Wall Street" with its
         agreement to buy The Sports Authority (TSA), according to a
         Reuters report in the BOSTON GLOBE.  Stocks of both
         companies "were battered" Friday as both were among the
         "leading percentage losers" and the most active issues on
         the NYSE.  TSA lost 1 13/16 to finish at 15 15/16 on Friday,
         while Woolworth fell 1 7/16 to 20 3/4, dropping the value of
         the stock deal to $523M from the original $570M.  Most of
         the attention was focused on the "negative short-term
         results" from the deal (BOSTON GLOBE, 5/9).  
    
    

    Print | Tags: Finance, The Sports Authority
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