Carson Pirie Stock Rises on Bid: Shares...

Carson Pirie Stock Rises on Bid: Shares of Carson Pirie Scott & Co. shot higher after a Swiss-owned retailing company based in Milwaukee launched a $280-million buyout for the Chicago-based department store chain. Carson Pirie, struggling with an attempt to rebound from financial setbacks in recent years, responded coolly to the $20-a-share bid from P. A. Bergner & Co. But Wall Street warmed to the idea that the long-rumored takeover target had finally received some interest, pushing its stock to a $7.625 gain at $21.50. Carson said it was “not for sale” but that its board would consider the Bergner offer “in due course.” Bergner has 31 department stores in Illinois and Wisconsin; Carson Pirie has 33 department stores in Chicago and Minnesota and owns County Seat casual wear stores.