Skechers agrees to be acquired by 3G Capital

On May 5th, Skechers announced that they have agreed to be acquired by investment firm 3G Capital, with the transaction expected to be completed in the third quarter of this year. According to the agreement, 3G Capital has agreed to acquire all outstanding shares of Skechers for $63 per share in cash. The statement said that Skechers will continue to be led by Chairman and CEO Robert Greenberg, President Michael Greenberg, and COO David Weinberg, and will continue to execute existing strategic initiatives.