Skip to main content

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.

Continue reading...

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

Comments

Post a Comment

Popular posts from this blog

The Guardian view on Covid-19, five years on: lessons still to be learned | Editorial

Though many would rather forget the pandemic, we are living with its consequences. Are we any better prepared for the next one? “When asked what was the biggest disaster of the twentieth century, almost nobody answers the Spanish flu,” notes Laura Spinney in her book Pale Rider, of an event that killed as many as one in 20 of the global population. “There is no cenotaph, no monument in London, Moscow or Washington DC.” Most of us will better understand that absence after Covid-19 , which was declared a pandemic by the World Health Organization five years ago this week. Some cannot put those events behind them: most obviously, many of those bereaved by the 7 million deaths worldwide (not including those indirectly caused by the pandemic ), and the significant numbers still living with long Covid . Others want to forget the loss of loved ones, the months of isolation and the costs to businesses, families and mental health. Do you have an opinion on the issues raised in this article? I...
Post a Comment
Read more