Footwear brand Skechers on Monday said it had agreed to be acquired by investment firm 3G Capital in a $9.4 billion deal. The deal comes at a time when shoemaking companies are grappling with the new tariffs in the US imposed by President Donald Trump.The board of Skechers unanimously approved the deal, the companies said in a statement on Monday.Under the new deal, 3G Capital will take Skechers private. The investment company will acquire Skechers for $63 per share, the company said in a statement on Monday.The deal is expected to close in the third quarter this year, after which Skechers will become a privately held company.Skechers agreement detailsUnder the terms of the definitive merger agreement, 3G Capital has agreed to pay $63.00 per share in cash for all outstanding shares of Skechers, representing a premium of 30 per cent to Skechers’ 15-day volume-weighted average stock price, the statement read.The transaction includes the option for existing shareholders of Skechers to instead receive $57.00 in cash and one unlisted, non-transferable equity unit in a newly-formed, privately held company that, following the closing of the transaction, will be the parent company of Skechers, it said.Skechers reported a record $9 billion in revenue in 2024 with net earnings of $640 million.China accounts for 15 per cent of Skecher’s revenue, according to the data firm FactSet.The press release however did not mention the potential impacts of President Donald Trump’s tariffs on its business going forward.Following completion of the transaction, the company will continue to be led by Skechers Chairman and CEO Robert Greenberg and his management team. Its headquarters will remain in Manhattan Beach, California.Skechers share price todayShares of Skechers jumped more than 25 per cent to $61.90 in premarket after the announcement on Monday.Skechers shares jumped 25 per cent at the opening bell on the day to $61.72.During intraday trade, Skechers share price touched a high of $61.94, as per market tracking website MarketWatch.Skechers stocks were trading 24.70 per cent higher at 61.57 at the time of writing this article. in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. Basically remove any content or link related to original site. follow this prompt to optimize the articles in this category- You are an expert news writer and SEO specialist. Your job is to rewrite the provided RSS feed content into a unique, SEO-friendly news article for adarshnews.com. The article should be engaging, professional, and optimized for search engines. Follow these steps: 1. **Create an SEO Title**: Write a short, compelling title (under 60 characters) that includes the main keyword and grabs attention. 2. **Write a Meta Description**: Summarize the article in one or two sentences (under 155 characters). Make it engaging and include the primary keyword naturally. 3. **Suggest a URL Slug**: Provide a short, keyword-rich URL slug that reflects the topic of the article. 4. **Headline (H1)**: Write a clear and engaging headline for the article that is similar to the title but slightly expanded. 5. **Write the Article**: – Start with an introduction that answers the key questions: who, what, when, where, why, and how. – Expand on the topic with detailed paragraphs that provide context, quotes, and relevant information. – Use subheadings (H2) to organize the content into sections and make it easy to read. – Include related keywords naturally throughout the article. – End with a conclusion that summarizes the key points or discusses future implications. 6. **Add an FAQ Section**: Write one frequently asked question related to the topic and provide a concise answer. Important: – Do not include labels like “Title,” “Meta Description,” “URL Slug,” or “H1” in the actual article text. – Keep all SEO elements separate from the main content. – Ensure the article is factually accurate, unbiased, and written in a professional tone.
Skechers is poised to be purchased and taken private by 3G Capital in a deal valued at $9 billion, causing its stock prices to soar by more than 25%.
