Harley-Davidson is surging

Motorcycle maker Harley-Davidson share prices shot up 12% in trading Friday amid rumours that private-equity firm Kohlberg Kravis Roberts could be mulling a takeover of the famous American brand.

Harley stock surged to $51 in afternoon trading, at times up almost $6.

The previous day’s close was $45.

That was a comeback from a year-to-date low of $37. Harley-Davidson has traded as high as $61 in the past 12 months, but the manufacturer of big, loud bikes has come under competitive pressure of late from newer market entrants, such as Polaris Industries-owned Indian, and smaller, sportier motorcycles from the Japanese and Italian manufacturers, such as Ducati.

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