Bloomberg News is reporting that Collective Brands Inc., which owns the Saucony, Keds, Stride-Rite and Sperry Top-Sider as well as the Payless ShoeSource discount shoe chain, is opting for an acquisition by Wolverine World Wide Inc., parent of Merrell, Wolverine and Hish Puppies, among others, and Golden Gate Capital Corp.
The news organization cited input from “two people with knowledge of the matter.”
The report said the acquisition may be announced early this week and values Collective Brands at $21 to $22 a share, and is likely to be chosen over a bid from South Korean retailer E-Land Group.
For the full story from Bloomberg, go here.
