Actress and media magnate Oprah Winfrey will buy a 10 percent stake in Weight Watchers and join the company's board.
Shares of the weight management company soared as much as 90 percent in premarket trading on Monday before pulling back to trade up about 60 percent to $10.96. (Get the latest quote here.)
Winfrey will buy nearly 6.4 million shares at Friday's closing price of $6.79 per share for $43.2 million, Weight Watchers said.
She will also have options to acquire an additional 5 percent stake.
More
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
She's hoping weight watcher stock doesn't fluctuate as much as her own weight.
ReplyDelete