The shoe company Skechers is being acquired for more than $9 billion to be taken private by the investment firm by 3G Capital.
The deal comes amid growing uncertainty over how U.S. President Donald Trump’s tariffs on foreign goods will affect companies who make their products overseas, particularly in China. Athletic shoe makers have invested heavily in production in Asia.
The offer of $63 per share represents a premium of 30% to Skechers’ 15-day volume-weighted average stock price. The deal was unanimously approved by Skechers’ board.
Skechers shares jumped nearly 25% Monday, to $61.56.
In a press release announcing the deal, the companies did not mention the potential impacts of Trump’s tariffs on its business going forward. However, Skechers says that about two-thirds of its revenue comes from sales outside of the U.S. China accounts for 15% of the company’s revenue, according to the data firm FactSet. ... more
