Elder Beerman May Sell Company

POSTED BY: George Hiotis
Friday, May 16, 2003 - 03:11 PM
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Shares of Dayton-based Elder-Beerman stock has shot up 20 percent following word of discussions of a possible sale of the company. In morning trading on the Nasdaq stock market, Elder Beerman stock rose 86 cents to five dollars and one cent. The department-store chain says several prospective buyers have expressed interest. Elder Beerman says it has entered into a letter of agreement with one of those interested parties to discuss possible sale. It declined to name the interested party. The company says there are not assurances that the discussions will result in a sale. Elder-Beerman employs about 61-hundred workers and operates 68 stores across the country and here in Zanesville.

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