New York, May 5 (AP) Skechers is being acquired for USD 9 billion and taken private by the investment firm by 3G Capital.

The board of Skechers unanimously approved the deal, the companies said Monday.

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The offer of USD 63 per share represents a premium of 30 per cent to Skechers' 15-day volume-weighted average stock price, the companies said.

Following completion of the transaction, the company will continue to be led by Skechers Chairman and CEO Robert Greenberg and his management team.

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The company headquarters will also remain in Manhattan Beach, California where it was founded more than three decades ago.

The deal is expected to close in the third quarter this year. (AP)

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)