Toys “R” Us Shares Up On Buyout Offer
Toys “R” Us shares went up after an investment group offered $5 billion for the company.
Toys “R” Us has been considering splitting its toy business from Babies “R” Us.
“The Wall Street Journal, citing unidentified people familiar with the matter, reported Thursday that an investment group including Cerberus Capital Management LP made an opening offer last month of $23.25 a share for the entire company.
That is lower than its closing share price of $23.05 on Wednesday, when its shares rose 2 percent after The New York Post reported that an unidentified bidder had emerged willing to buy the entire company.”
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