Shoemaker Skechers to be acquired for $9 billion and taken private by 3G Capital
Skechers is being acquired for $9 billion and taken private by the investment firm by 3G Capital.
The board of Skechers unanimously approved the deal, the companies said Monday.
The offer of $63 per share represents a premium of 30% to Skechers’ 15-day volume-weighted average stock price, the companies said.
Following completion of the transaction, the company will continue to be led by Skechers Chairman and CEO Robert Greenberg and his management team.
The company headquarters will also remain in Manhattan Beach, California where it was founded more than three decades ago.
The deal is expected to close in the third quarter this year.
More Stories
Eon swallows Ovo in £600m deal that crowns Germany’s biggest energy giant as Britain’s largest supplier
The German utility giant Eon has agreed to buy the retail arm of Ovo Energy in a transaction that will...
OpenAI mints hundreds of overnight millionaires as staff cash out $6.6bn in share sale
Roughly 600 staff at OpenAI have walked away with an average of $11 million (£8 million) apiece after cashing out...
SME funded launches one-stop finance platform to plug funding gap for britain’s builders and manufacturers
A new specialist finance platform aimed squarely at the UK’s construction and manufacturing sectors has launched in a bid to...
Vauxhall turns to China’s Leapmotor in bid to keep British motoring affordable
Vauxhall, one of Britain’s oldest and best-loved motoring marques, is to fit Chinese-engineered components in its vehicles for the first...
ProcurePro lands $11m to drag construction’s $13 trillion supply chain out of the spreadsheet era
Construction is an industry worth $13 trillion globally, yet it remains one of the least profitable on earth. Margins of...
MOD hands Musk’s Starlink £16m as Ukraine support drives satellite spend
The Ministry of Defence has handed £16.6m to Elon Musk’s Starlink over the past four years, with much of the...