Guess? Stock Soars 28% On WHP Global Buyout Offer

(RTTNews) - Guess', Inc. (GES) is trading at $12.48, up 28.66 percent or $2.78 during Monday's trading, after WHP Global submitted a non-binding proposal to acquire the company for $13.00 per share in cash.

The stock opened at $12.16 and has traded between $12.01 and $12.79 so far, compared to a previous close of $9.70 on the New York Stock Exchange. Trading volume has reached 3.84 million shares, far exceeding the average volume of 1.26 million. The stock's 52-week range is $9.24 to $33.50.

The offer excludes shares held by certain existing shareholders, including Paul Marciano, Maurice Marciano, and Carlos Alberini. The transaction is expected to be financed through equity, third-party debt, and shareholder reinvestment.