Shares of Textron are trading higher today amid rumors that the company could be acquired. Textron is the parent company of Cessna Aircraft.
“We are hearing the stock is up on takeover rumors, Michael Nasto, senior trader at U.S. Global Investors, told Bloomberg News.
Nasto along with Jon Najarion, co-founder of OptionMonster.com, told Bloomberg that they have heard that defense contractor Lockheed Martin may make an offer for Textron. Najarion told MarketWatch that Raytheon Co. also was interested in a takeover.
Textron spokeswoman Karen Gordon Quintal said the company does not respond to market rumor and speculation.
