MANHATTAN BEACH, CALIF. AND NEW YORK CITY — Global investment firm 3G Capital has entered into an agreement to acquire footwear retailer Skechers USA Inc. (NYSE: SKX). The sales price is $9.4 billion, according to The Wall Street Journal. Upon completion of the transaction, Skechers will become a privately held company. New York City-based private equity firm 3G will pay $63 per share in cash, representing a premium of 30 percent to Skechers’ 15-day, volume-weighted average stock price. The transaction also includes the option for existing shareholders of Skechers to instead receive $57 in cash and one unlisted, non-transferrable equity unit in the newly formed company. Founded more than 30 years ago in Manhattan Beach, Calif., Skechers maintains $9 billion in annual sales and is the third largest footwear company in the world. There are more than 5,300 Skechers retail stores worldwide that sell clothing, shoes and accessories at affordable prices. Skechers says the new private company will continue to execute its ongoing strategic initiatives, including the design of innovative products, international development, direct-to-consumer expansion, domestic wholesale growth and strategic investments in global distribution, infrastructure and technology. The Skechers board of directors unanimously approved the sale. Skechers will continue to be …
