Skechers Stock Soars After 3G Capital Agrees To Acquire The Company For $9.4B
Synopsis
Skechers shareholders can elect to receive $63 per share in cash or $57 per share in cash and one unlisted, non-transferable equity unit (LLC unit) in a newly formed, privately held firm that will be the parent company of Skechers after the closing of the deal.
Shares of footwear company Skechers U.S.A., Inc. (SKX) soared 25% on Monday morning after the company announced that investment firm 3G Capital has agreed to acquire it for $9.4 billion.
Under the terms of the agreement, Skechers shareholders can elect to receive $63 per share in cash or $57 per share in cash and one unlisted, non-transferable equity unit (LLC unit) in a newly-formed, privately held company that will be the parent company of Skechers after the closing of the deal.
The transaction is expected to close in the third quarter of 2025.
The $63 apiece price represents a 30% premium to the company’s 15-day volume-weighted average stock price.
Following the completion of the transaction, Skechers will become a privately held firm. However, the company will continue to be led by Chairman and CEO Robert Greenberg, President Michael Greenberg, and the rest of the current management team. It will remain headquartered in Manhattan Beach, California.
Skechers will continue to execute its strategic initiatives, including direct-to-consumer expansion, domestic wholesale growth, and strategic investments in global distribution, infrastructure, and technology.
The company stated that its stockholders, who hold approximately 60% of the combined voting power of the outstanding shares, have approved the transaction by written consent.
3G Capital will finance the transaction through a combination of its cash and debt financing committed by JPMorgan Chase.
In the three months through March 2025, Skechers reported sales of $2.4 billion and net earnings of $202.44 million. However, it withdrew its annual guidance for 2025 due to macroeconomic uncertainty from the trade tensions.
Despite the massive rally on Monday, Skechers' stock remains down over 8% in 2025 and over 7% in the past 12 months.
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