Motorcycle maker Harley-Davidson’s share prices shot up 12% in trading on Friday amid rumors that private-equity firm Kohlberg Kravis Roberts could be mulling a takeover of the famous American brand.
Harley stock surged to $51 in afternoon trading, at times up almost $6.
The previous day’s close was $45.
That was a comeback from a year-to-date low of $37. Harley-Davidson has traded as high as $61 in the past 12 months.
But the manufacturer of big, loud bikes has come under competitive pressure of late from newer market entrants, such as Polaris Industries-owned Indian, and smaller, sportier motorcycles from Japanese and Italian manufacturers, such as Ducati.
- Screenshot via Yahoo Finance