Skechers agreed to be acquired by private equity firm 3G Capital in a $9.42 billion deal, the largest buyout in footwear industry history, according to Reuters. The offer of $63 per share in cash represents a 28% premium to Friday’s close. Skechers stock surged 25% on Monday following the announcement. The move takes the company private after 26 years amid steep U.S. tariffs on Chinese goods, which forced the brand to withdraw its annual forecast in April. Needham analyst Tom Nikic said the deal reflects pressure from rising costs, weaker consumer demand, and China-U.S. tensions.
