Kate Spade & Co. shares sank 12.7% in Tuesday premarket trading, on track to open at a seven-week low, after reports the fashion and accessories company needs more time to consider a buyout bid from Coach Inc. . Reuters reported late Monday that Kate Spade needs a few more weeks to negotiate a potential sale offer Coach made last week. Kate Spade said in February that it was exploring strategic alternatives. Kate Spade shares are down 8.5% for the past year, but are up 22.1% for the year so far. Coach shares are inactive in premarket trading, but down 20.7% for the year to date. And the S&P 500 index is up 5.4% for the year to date.
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