Honda denies talk of interest in Harley
TOKYO (Reuters) - Japan's Honda Motor Co. (7267.T: Quote, Profile, Research, Stock Buzz) has denied it is looking to buy Harley-Davidson Inc. (HOG.N: Quote, Profile, Research, Stock Buzz), rumors of which had sent the U.S. motorcycle maker's shares surging in New York on Friday.
"There's absolutely no truth to it," Honda spokeswoman Makiko Yoshida said in Tokyo on Monday.
Despite skepticism from analysts and market participants, Harley-Davidson shares and options surged, with 58,535 options changing hands on Friday -- more than 14 times the daily average, according to figures from market research firm Track Data.
Its share price gained as much as 6.4 percent before closing Friday's session up $2.43, or about 4 percent, at $62.55 on the New York Stock Exchange.
Shares in Honda, the world's biggest motorcycle maker, reacted little in Tokyo, ending up 0.5 percent on Monday at 4,420 yen.
© Thomson Reuters 2008 All rights reserved
Help us advance this story. Provide relevant links or share your insights using our comment box. Please be considerate and help us by reporting any abuse you find. Reuters will delete comments that don't meet community standards.
Have a correction to this article? Email the editors
Entertainment
Fannie and Freddie bailed out