Buyout speculation boosts Lululemon

NEW YORK — Lululemon Athletica Inc. shares climbed the most in more than a month amid speculation that founder Chip Wilson will push for a sale of the yogawear company.

Lululemon’s stock rose as much as 4.3 per cent to $41.94 US in New York, the biggest intraday gain since May 13, after the Wall Street Journal reported Wilson is considering selling his stake or working with private-equity firms on a buyout of the company. It closed Monday at $41.25.

Wilson, who agreed to resign as Lululemon’s chairman in December, has been voicing his displeasure with the company’s current direction. On June 11, he said he voted unsuccessfully against the re-election of Michael Casey, his successor as chairman.