U.S. Shoe May Be Hot To Trot

Want a glaring example of a hot takeover stock that turned to ice? Try U. S. Shoe. Trading as high as 35 in 1987 and 26 last summer, the stock has plummeted to 9 after bitterly disappointing just about everyone on the Street not only on the takeover front but also on plans to sell major divisions. Now, just as the buyout bettors have fled the stock, the smart-money crowd is beginning to move in.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.