Skechers Sold In $11B Deal As Trump's Tariffs Raise Worries For Shoemakers

U.S. footwear giant Skechers to be sold under shadow of Trump's tariffs - People's Daily Online

LOS ANGELES, May 5 (Xinhua) -- Skechers, the third-largest footwear firm by sales in the United Stat

American sports shoe brand Skechers is being acquired by investment fund 3G Capital. The deal is expected to close in the third quarter of this year, after which the shoe brand will disappear from the New York stock exchange.

Skechers Sold In $11B Deal As Trump's Tariffs Raise Worries For Shoemakers

A private equity firm will purchase Skechers as President Donald Trump's sweeping tariffs create growing uncertainty for US footwear companies.3G Capital will buy Skechers for what could be worth up to $11 billion, the shoemaker announced in a news release on Monday, May 5. Once finalized, the deal will make Skechers private and it'll be delisted from the New York Stock Exchange.Skechers, which is the third-largest footwear brand globally behind…

The deal's size, $9 billion, reflects a 30% premium on the stock price; estimates: The deal has no connection to the trade war