Timberland Sold To North Carolina-Based VF Corporation

BOSTON (CBS) - Shares of Timberland of New Hampshire surged Monday, on word that the company is being sold.

The parent company of Northface and Nautica, VF Corporation of North Carolina, will buy Timberland for more than $2 billion.

Senior Analyst Brian Sozzi at Wall Street Strategies said this has been rumored for a while.

WBZ NewsRadio 1030's Anthony Silva reports.

Timerberland operations will continue to be run out of Stratham, New Hampshire.

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• Anthony Silva