The Market Appears To Believe Sequential Brands Will Acquire Martha Stewart Living Omnimedia
Shares of Martha Stewart Living Omnimedia, Inc. (NYSE: MSO) spiked up about 20 percent between 2:45 p.m. and 2:55 p.m. EST on Thursday.
The action came as rumors surfaced that Sequential Brands Group Inc (NASDAQ: SQBG) could be looking to buy out the media and merchandising company, according to Dow Jones.
Sequential stock also shot up by 5.5 percent during the same period.
Martha Stewart is organized into four separate branches: publishing, Internet, broadcast media, and merchandising.
Sequential specializes in managing and licensing consumer brands. The Martha Stewart brand name thus likely offers attractive prospects to the firm.
The Wall Street Journal reports that a deal could be announced within days, although specific terms are still unknown.
Benzinga has reached out to Martha Stewart and Sequential for comment and is awaiting their response.
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