Skechers to be acquired and taken private by 3G Capital in £6.78bn deal
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Skechers (SKX) is being acquired for nine billion dollars (£6.78 billion) and taken private by investment firm 3G Capital.
The board of Skechers unanimously approved the deal, the companies said on Monday.
The offer of 63 dollars 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 chief executive 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 of this year.
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