Foot Locker, Inc. shares jumped on Monday, closing the day up just under 10% over Fridays closing price at $27.32 per share. The stocks improvement over the course of the day was spurred by reports out of Womens Wear Daily that named Kohlberg Kravis Roberts & Co. as a “lead contender to buy the footwear company,” pointing to Apollo Management as a possibly bid partner.
Foot Locker has been at the center of a number of acquisition rumors in recent months, with multiple private equity firms hinted at as possible suitors and with Foot Locker itself named as a possible acquirer of one of Brown Shoes divisions.
