According to the footwear company, 3G intends to purchase all of Skechers’ remaining shares for $63 per share in cash.
Skechers and 3G Capital reached a $9.42 billion agreement for Skechers to become a privately held corporation.
The footwear firm said on Monday that 3G intends to purchase all of Skechers’ remaining shares for $63 per share in cash.
Before the markets opened on Monday morning, Skechers‘ stock rose 26% to $62.05 in the morning.
According to the firms, the proposed deal is 30% more than Skechers’ stock price as measured by its 15-day volume-weighted average. The purchase is anticipated to close in the third quarter of 2025 after being unanimously authorized by Skechers’ board of directors.
After the sale concludes, current Skechers owners can choose to receive one unlisted, non-transferable equity unit in the newly established private firm in addition to $57 per share in cash. After the merger closes, 3G anticipates holding roughly 80% of the new company’s outstanding units.
Robert Greenberg, the founder and CEO of Skechers, intends to continue leading the company. David Weinberg, the chief operating officer, is also expected to remain.
One of the biggest shoe brands in the world, Skechers, had $8.97 billion in revenue in 2024. At a price of $11 per share, it went public in 1999.
Tim Hortons and Burger King’s parent company, Restaurant businesses International, is one of the other well-known businesses that 3G has purchased.
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