SHARES IN THE SPORTS AUTHORITY UP AMID TAKEOVER TALKS
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).