Saks Rumours Laid to Rest

Recent reports have falsified claims of the previously rumoured Saks takeovers. About a month ago there was speculation that a UK private equity firm may have been interested in the company. This claim is likely to not be true. However the shares of Saks traded at $6 and change when the reports first came out. They have increased to over $8 since then and have maintained their stability even amid the false takeover. Saks is up 1.84% in afternoon trading.