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Rumor Squash: Weight Watchers Pops And Drops On Takeover Report

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Rumor Squash: Weight Watchers Pops And Drops On Takeover Report
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Weight Watchers International, Inc. (NYSE: WTW) popped and dropped Wednesday morning.

  • The stock opened at $10.05 and continued lower, after the company announced on Monday evening that CEO James Chambers will resign.
  • Around 10:08 a.m. ET, the stock spiked to $10.40 after dealReporter suggested a private equity group may be interested in purchasing the company.
  • At 11:21 a.m. ET, a source close to the matter told Benzinga that Weight Watchers has had "absolutely no discussion" about taking the company private.
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Shares have traded in a big range Tuesday morning, moving between $9.54 and $10.40. At time of writing, the stock was trading at the lows of the day.

Posted-In: News M&A Exclusives Movers Best of Benzinga

 

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