Wild Oats Buyout Rumors Boost Stock
BOULDER, Colo. - Persistent rumors that Kroger Co. has its eyes set on acquiring Wild Oats Markets here caused the natural foods retailer's stock to jump 21 percent on Tuesday, before settling at $12.70 and a modest 8.2 percent gain.
The rumors were fueled after industry watchers learned that Wild Oats c.e.o. Perry Odak and c.f.o. Ed Dunlap canceled an investor meeting this week for what a company spokeswoman described as "a more important meeting." In addition, Odak has put his $2 million house on the market. Wild Oats said Odak put the house on the market several months ago because he wants a smaller place, since his wife lives in Pennsylvania and he commutes there on weekends.
Officials at Kroger declined comment on the rumors.
The rumors were fueled after industry watchers learned that Wild Oats c.e.o. Perry Odak and c.f.o. Ed Dunlap canceled an investor meeting this week for what a company spokeswoman described as "a more important meeting." In addition, Odak has put his $2 million house on the market. Wild Oats said Odak put the house on the market several months ago because he wants a smaller place, since his wife lives in Pennsylvania and he commutes there on weekends.
Officials at Kroger declined comment on the rumors.