Skechers bids for Heelys
13/08/2008
Casual footwear manufacturer and retailer Skechers has confirmed that it has offered to buy footwear designer Heelys for $5.25 a share in cash, or $142.8 million, sending Heelys shares up 15%.
In a letter sent to the Heelys board on Wednesday, Skechers also said it may be willing to raise its bid after an examination of the target company’s financial books.
Skechers submitted a failed bid to buy Heelys in May; the two companies have been talking about a potential deal since last year.
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