Skechers Steps into New Era with 3G Capital Acquisition

Skechers is set to be acquired for $9 billion by 3G Capital and taken private. The board unanimously approved the deal, which entails a 30% premium on the stock price. CEO Robert Greenberg will remain in charge, with headquarters staying in Manhattan Beach. Completion is expected in Q3.

Skechers, the iconic footwear brand, is poised to usher in a new chapter as it becomes part of 3G Capital's private investment portfolio in a landmark $9 billion acquisition.

The board of directors at Skechers has given its unanimous nod to the deal, announced Monday, which offers a notable 30% premium on the brand's 15-day volume-weighted average stock price.

Post-acquisition, current CEO Robert Greenberg, along with his seasoned management team, will continue to steer the company from its headquarters in Manhattan Beach, California. The transaction is anticipated to finalize in the third quarter of this year.

(With inputs from agencies.)