Footwear brand Skechers jumps after $9.42 billion go-private deal

Skechers USA

05/05/2025 15:04

Updates

** Shares of footwear firm Skechers SKX.N rise as much as 25.5% to $61.94, highest since February 2025

** Co says it agreed to be taken private by investment firm 3G Capital in $9.42 billion deal

** Adds that 3G Capital - a buyout firm controlled by Brazilian billionaire financier Jorge Paulo Lemann - has offered to pay $63 per SKX share in cash; 28% premium to stock's close on Friday, as per Reuters calculations

** If gains hold, stock set for best day since October 2017

** Co says deal 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

** Including session moves, stock down about 8% YTD

(Reporting by Anuja Bharat Mistry in Bengaluru)

((AnujaBharat.Mistry@thomsonreuters.com))