Footwear brand Skechers jumps after $9 billion go-private deal
ReutersMay 5, 2025 1:21 PM
Shares of footwear firm Skechers SKX.N up ~26% at $62.17 premarket
Co says it had agreed to be taken private by investment firm 3G Capital in $9.4 billion deal
Adds, 3G Capital - buyout firm controlled by Brazilian billionaire financier Jorge Paulo Lemann - has offered to pay $63 per SKX's share in cash; 28% premium to stock's close on Friday, as per Reuters calculations
Co states transaction is expected to close in third quarter of 2025
Notes, SKX will continue to be led by CEO Robert Greenberg, President Michael Greenberg, and the rest of the current management team
Up to last close, stock down 26.6% YTD
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