Rockwell Collins Higher Off Renewed Takeover Speculation
Rockwell Collins, Inc. (NYSE:COL) shares are trading higher by $2.16 at $130.15 in Tuesday’s session. The stock has been linked to reports that it may be acquired by United Technologies Corporations
(NYSE:UTX). Interestingly, shares added nearly $5.00 ($106.53 to $111.32 on Aug.1), which was three days before news broke that United Technologies was preparing a bid for company.
Tuesday, the issue spike to $135.31 (new all-time high), when rumors circulated that the deal may be done $140/share or less. Since reaching that level — elevated along with no confirmation of an impending bid — Rockwell Collins has retreated to $130.00 area.
In order to post a new all-time-closing, it will need to end the session above its Aug. 24 close ($129.28).
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