Why Hilton Grand Vacations' Shares Popped 12.4% Today
Shares of Hilton Grand Vacations (NYSE: HGV) jumped as much as 12.4% after rumors swirled about a potential buyout. At 12:45 p.m. EDT, the stock remained up 10.4% on the day.
According to The New York Post, Apollo Global, one of the world's largest private equity firms, is interested in buying Hilton Grand Vacations to pair it with the previously acquired timeshare company Diamond Resorts. Hilton Grand Vacations is reportedly being given the option of a full buyout, a merger to remain public, or a tender offer from Apollo.
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Source Fool.com
