Getting your Trinity Audio player ready...
Cherry soars on management bid: Electronics-maker Cherry Corp.’s shares soared on news it had accepted a management-led buyout for $26.40 per share, a deal that values the Waukegan-based company at $264 million. Cherry’s stock jumped $5.33, or 26 percent, to $25.70 in Monday morning trading. President and chairman Peter Cherry and his affiliates already own 52 percent of Cherry’s 10 million shares outstanding. They will be buying the remaining stake for $126.7 million.
