• Most Popular
  • Most Shared

UPDATE 1-Skechers says still wants to buy Heelys

Thu Aug 21, 2008 8:33am EDT

Stocks

   

(Writes through; adds details throughout, NEW YORK dateline)

NEW YORK, Aug 21 (Reuters) - Skechers USA Inc (SKX.N) said it was still interested in buying rival shoe maker Heelys Inc (HLYS.O) despite Heelys' rejection of its sweetened $142.8 million bid.

Skechers also said on Thursday that it might be prepared to "refine" its $5.25-per-share offer "if additional value can be identified during the due diligence."

"The company's interest remains genuine and, along with our advisers, we will continue to explore all of our options," Skechers Chief Executive Robert Greenberg said in a statement.

Skechers has already raised its bid once, from an original offer of between $4.75 and $5.10 per share.

Greenberg said he believes the latest bid provides a "full and fair value" to Heelys shareholders and that he is "particularly disappointed that, after repeated contacts over several months, Heelys will not agree even to discussions or provide us with an opportunity to conduct due diligence." (Reporting by Martinne Geller; editing by John Wallace)



More from Reuters

Photo

Democrats gain 60th vote on health bill

WASHINGTON (Reuters) - Senate Democrats reached a compromise on Saturday with the last holdout senator that secured the 60 votes they need to pass a broad healthcare overhaul sought by President Barack Obama.

A woman shops at a Sam's Club store, a division of Wal-Mart Stores, in Bentonville, Arkansas June 4, 2009. REUTERS/Jessica Rinaldi

The food-stamp economy

On the last day of every month, shoppers at Walmart load their carts with food and household items and wait for the midnight hour. Is this the new normal in America?  Full Article 

Two men shake hands in a file photo.    REUTERS/File

Let's make a deal

The battered M&A sector will make a tepid recovery in the coming year and three hot sectors will lead the way, according to a Thomson Reuters analysis.  Full Article