Peloton Interactive Inc (NASDAQ:PTON) climbed more than 20% Monday with rumors of the fitness equipment manufacturer finding a potential suitor. The stock has recently been hit with a flurry of speculation, driving the price down 74% over the past six months, making it a prime buyout target.
Rumors are circulating about other tickers as well. Below is a list of four companies that have some buyout buzz, with price action for Monday at market close.
- NiSource Inc. (NYSE:NI) On Feb. 3, shares were trading 0.5% higher to $29.86 amid a report of an investor pushing the company toward a deal to go private. The stock is currently trading at $28.79.
- Mantech International Corp (NASDAQ:MANT) On Feb. 3, shares of Mantech spiked to session highs of $74.31 that continued into the next day due to a report that the co-founder is exploring a sale of his controlling stake. The stock is trading at $78.83, perhaps signaling investors are behind this move.
- Griffon Corporation (NYSE:GFF) On Feb. 2, Griffon shares spiked higher on volume as reports of the company’s sale of its Telephonics Unit advanced. The news was sold off into Friday’s session, before rebounding from lows of $20.70 to $22.14.
- PayPal Holdings Inc (NASDAQ:PYPL) On Feb. 3, investors circulated a rumor that the 35% year-to-date fall in the company’s shares following its earnings announcement could attract an insurgent investor with an M&A agenda. The stock closed at $121.41, down from its 52-week high of $310.16.
Photo: Gerd Altmann from Pixabay
