Shares of Saks rose sharply early Tuesday after a report that said the company may receive a buyout offer of $1.7 billion.
The Daily Mail of Britain said that American and British buyout firms were nearing a bid of $11-a-share for Saks, a 75 percent premium from the stock’s close on Monday. In trading before the market opened, shares of Saks rose as high as $9.. . . more