Skechers U.S.A., Inc. and 3G Capital Partners L.P. have received all necessary regulatory approvals for 3G Capital’s acquisition of Skechers. The transaction is expected to close on September 12.
Skechers and 3G Capital also announced that the deadline for Skechers stockholders of record to elect the form of merger consideration they wish to receive in connection with the transaction is 5:00 p.m. EST on September 5.
Under the terms of the merger, Skechers stockholders can choose one of two options for each share of Skechers common stock they own: (1) $63.00 in cash per share; or (2) $57.00 in cash per share plus one equity unit in a newly formed, privately held company that will become the parent company of Skechers after the transaction closes.
In early May, Skechers agreed to be taken private by 3G Capital for $9.42 billion, marking its exit from the public markets after 26 years. Chairman and CEO Robert Greenberg, President Michael Greenberg, and COO David Weinberg will continue to lead the company.
Image courtesy Skechers
