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Skechers to be taken private by 3G Capital in biggest footwear buyout to date

California-based shoe brand agrees to $9.42bn deal with investment firm as it grapples with impact of US tariffs

Skechers has agreed to be taken private by 3G Capital for $9.42 bn (£7bn) in the footwear industry’s biggest buyout to date, exiting public markets after 26 years as the popular shoe brand grapples with the impact of steep US tariffs.

Investment firm 3G Capital has offered $63 (£47) per Skechers share in cash, the footwear brand said on Monday. That represents a 28% premium to the stock’s Friday close, according to Reuters calculations.

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from The Guardian https://ift.tt/bHfBRKn
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