Shares of Orchard Supply (OSH +12.7%) are higher today after announcing earlier it would voluntarily file for bankruptcy in an effort to sell itself to Lowe's (LOW). The stock initially soared over 90% on news that the deal would be worth around $205M, or approximately $34.17 per share, a massive premium to Friday's close of $1.88. However, details in the press release showed the numbers are a little more convoluted than previously thought. LOW will assume the debt owed to nearly all of OSH's supplier partners, which means the actual per share value of the deal is contingent on how much debt gets wiped out in bankruptcy court.
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs