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Non-Tech : Genesco (GCO)
GCO 30.06+3.0%Jan 9 9:30 AM EST
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From: X-Ray Man2/19/2008 12:43:17 PM
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While we wait to determine if Genesco will be acquired by Finish Line, the stock is slowly recovering on its own strength. My suspicion is either Finish Line will have to negotiate a lower price (but still well above $40) or it will have to pay an exit fee. I doubt the appeal will let them go scot free. Meanwhile GCO could start to hear from other suitors. In particular, VF Corp would be an interesting suitor, and would likely part out the parts of GCO that didn't fit their portfolio, recovering some of the initial cost. Lifetime Brands would also be interesting, but might better be a recipient of some of what a VFC wouldn't want, rather than LCUT try to make a deal of their own. In any case, I think the entire sector will do well as we pull out of the recession, and they all have good global brands. Disclosure: I have position in all of these.
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