Franchise Group, Conn's shares gain on report of potential takeover bids
Franchise Group (FRG) rose 1% on a report that its evaluating a management-led takeover. Conns jumped 15% on a report that Franchise Group may be also considering an acquisition
Brett_Hondow/iStock Editorial via Getty Images Franchise Group (FRG) rose 1% on a report that its evaluating a management-led takeover. Conn Inc. (NASDAQ:CONN) jumped 15% on a report that Franchise Group may be also considering an acquisition of the furniture chain.
Franchise Group management, led by CEO Brian Kahn, may pay $30-$35 a share for the company, which is the owner of Vitamin Shoppe and other retailers, according to a WSJ report. Talks about a potential deal are said to be at an early stage. The WSJ reported in the same article that Franchise Group (NASDAQ:FRG) is separately considering an acquisition of Conn's Inc (CONN).
Conn's has a market cap of about $215 million. Franchise Group (FRG) short interest is 21%. Conn's (CONN) short interest is 18%.
Franchise Group (FRG) was in the headlines last year after retailer Kohl's (KSS) called off talks to sell itself to the comapny.