Skechers secures antitrust clearance for $9 billion go-private deal, facing potential closing delays

From Yahoo Finance: 2025-06-27 14:07:00

Skechers Inc.’s $9 billion go-private deal with 3G Capital faces a potential delay in closing as a lawsuit was filed in federal court. The deal offers shareholders an option of $57/share in cash and an equity unit. The Greenberg family, central to Skechers for 30 years, will remain in leadership roles post-deal.

The Key West Police Officers & Firefighters Retirement Plan filed a complaint against Skechers, alleging violations in a regulatory requirement for disclosures. The Greenberg family, owning 60% of voting rights, already approved the deal. A hearing on a preliminary injunction motion is set for July 21, seeking to delay the election deadline and merger closing.

Skechers recently reported $2.41 billion in first-quarter net sales for fiscal 2025, a 7.1% increase from the previous year, with net earnings dropping 2.0%. The company withdrew its financial guidance due to uncertainties surrounding tariffs. The lawsuit and potential delay in the 3G deal could impact Skechers’ future financial outlook and operations.



Read more at Yahoo Finance: Skechers Secures Antitrust Clearance To Go Private, But There Could Be Delays