Wanda Sports Group Stock Soars on Buyout Proposal
Shares of Wanda Sports Group (NASDAQ: WSG) soared on Wednesday after the company received a buyout offer. The proposed acquisition implied 37% upside from where the stock closed yesterday, hence its pop when the market opened this morning. As of 1:30 p.m. EDT, Wanda Sports Group -- a global sports events, media, and marketing platform -- was up 28%.
So who is this buyer anyway? It turns out, the offer came from Wanda Sports & Media Holding Company. This holding company already owns 72% of the Class B shares of Wanda Sports Group. But now it wants to buy all of the Class A shares for just $1.67 each.
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Source Fool.com
