Why Dave & Buster's Stock Was Climbing Today
Shares of Dave & Buster's (NASDAQ: PLAY) were gaining today after an activist investor took a position in the stock, lifting shareholders' hopes for a turnaround by the struggling "eatertainment" chain. The stock was up 10.9% as of 12:26 p.m. EST on Friday.
The private equity firm Kohlberg Kravis Roberts (KKR) revealed a 6.3% stake in Dave & Buster's this morning. In a Securities and Exchange Commission filing, the activist investor said it had already held talks with management about its business, operations, strategy, plans, and prospects. The statement also said that KKR could pursue any number of moves, including a merger, reorganization, a change in the board of directors, or a sale of assets.
Dave & Buster's has not yet issued any statement about KKR's position or the discussions they've held.
Source Fool.com
