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Build-A-Bear Workshop Surges After Embarking on Strategic Review

Build-A-Bear Workshop Inc. surged as much as 8.7 percent after announcing plans to pursue strategic options, a sign the toy company may seek a buyer.

The board authorized a review of Build-A-Bear’s “full range of strategic alternatives,” without setting a timetable on the deliberations, the St. Louis-based company said in a statement on Tuesday. Guggenheim Securities LLC will serve as financial adviser, while Bryan Cave LLP will offer legal counsel.