Pandora Stock Soars Amid Takeover Rumors

RAPAPORT... Shares in Pandora spiked late last week followingspeculation the company had hired an adviser to negotiate a possible buyout. The jeweler has called on Rothschildfor guidance on how to handle potential buyers, according to a Danish-languagereport on news site Inside Business. Its stock price rose 7% on Thursday and afurther 9% Friday. "As a general principle, we do not comment on rumors," a Pandora spokesperson told Rapaport News Monday. "We [also]don't comment on our choice of advisers." If there were a bid on Pandora, the company would follow therules and regulations on how listed companies need to disclose this informationto the stock exchange, Melchior added. Pandora has had a difficult time recently, with grey-marketcompetition in China affecting its bottom line, as well as disappointing salesleading to the resignation of its CEO in August. It laid off nearly 400employees in August. Last week, the company launched its first new charm concept in fiveyears. Image: Pandora store, Miami, Florida. (Phillip Pessar)