Travelzoo up on takeover rumors
Travelzoo Inc. (Nasdaq: TZOO) shares are up on rumors of a takeover bid by Priceline.com Inc. (Nasdaq: PCLN). Neither company has commented on the market gossip. StreetInsider.com called the rumors “questionable.”
The rumors have stimulated aggressive option activity. October calls allowing investors to buy TZOO shares at $22.50 or $25 have been heavily traded.
In afternoon trading, TZOO shares are up 15.49%, or $3.08, at $22.97. Over the last 52 weeks, shares have ranged from $16.60 to $40.68.
