RIVL STORY
12/07 4:01P (DJ) +Rival Co. Up 15%; Co. Can't Explain Stk Price Rise >RIVL
Story 4145 =Rival Co. Shares Close Up -2: Analyst Cites Takeover Talks
NEW YORK (Dow Jones)--Rival Co. (RIVL) shares climbed 15% Monday, but Chief
Financial Officer Mark Meierhoffer said there wasn't any news Monday to
account for the stock price increase.
Rival shares closed at 12 1/2, up 1 5/8, on Nasdaq volume of 475,200, more
than 11 times their average daily volume of 42,900.
Schroder & Co. analyst Kyle Kavanaugh said the stock has continued to trade
actively since the Kansas City, Mo., company announced it received an
unsolicited bid from an unidentified company and hired NationsBanc Montgomery
Securities Inc. as an adviser on Nov. 27.
Prior to the announcement, the company's stock closed Nov. 25 at 10 7/8, up
3 1/2, or 47%, in Nasdaq market trading. However, the day of the announcement,
the company's stock closed down 15/16, or 8.6%, at 9 15/16.
Rival's shares have been trading up in heavier-than-average volume since the
potential deal was announced. However, Monday's volume is the highest it has
been in those days.
A trader noted that Monday's volume is the same kind that occurred prior to
the company's initial announcement of the potential takeover.
Rival designs, makes and markets small household and personal-care
appliances, including Crock-Pot and Pollenex products and well and utility
pumps.
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