A Monday report in the Wichita Eagle cites “rumors” that Cessna’s parent company Textron could be for sale. The news drove Textron stock up-though it still rests far closer to the bottom of its fluctuation curve than the top. According to some observers in the finance sector, Lockheed Martin could be among the potential buyers-though others scoff that the military mega-contractor ought to have no interest in “the Cessna business.” Recent reports speculated that Textron might sell off either its Cessna Aircraft or Bell Helicopter subsidiaries-or both-to raise needed cash. Both are viewed as attractive acquisitions despite the down market. Speculation that Textron, itself, could be on the acquisition radar is logical given the dip in its stock prices. According to the Eagle, Textron stock topped at $65.52 and bottomed at $3.57 within the past year. As of Monday it was selling at $8.07-up 65 cents for the day. Representatives for both Textron and Lockheed Martin declined to comment as a matter of policy.
Sale Talk Drives Up Textron Stock Prices
