Monday, December 11, 2006

Claire's Stores (CLE) Higher On Reports Takeover Getting Closer

Claire's Stores, Inc. (NYSE: CLE) is higher this morning following reports from Women's Wear Daily the company entered into the second round of bidding with offers said to be around $39 per share.

Earlier in the month, Claire's Stores said it was exploring strategic alternatives for enhancing shareholder value, including a possible sale of the company. The Company has retained Goldman, Sachs & Co.

Claire's Stores, Inc. is a leading international specialty retailer offering value-priced costume jewelry and accessories to fashion-aware tweens, teens and young adult females through its two store concepts: Claire's and Icing by Claire's.

Shares of Claire's Stores are 4.5% higher to $34.60 in early action.

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