NBA Succeeds Promoting Game In China Brazil Exec: Sony Should Extend WC Deal Myanmar Celebrates SEC Games Start Klitschko Profiled As Powerful Figure Sky Reveals Sports Bar Viewing Numbers Canberra's Manuka Oval To Reopen BayernLB To Sue Ecclestone For $550M Qatar Ready For Summer, Winter Cup Canberra To Host Cricket Championships RFU CEO Works On Deal To Rescue Cup
SBD Global/January 18, 2013/FinancePrint All
Footwear brand K-Swiss announced that South Korea-based fashion and retail company E.Land World will acquire all of the outstanding common stock of K-Swiss for $4.75 per share in cash, or a total equity value of approximately $170M. The offer price is a 49% premium to K-Swiss' closing stock price of $3.19 Wednesday on the over-the-counter market. The agreement will see K-Swiss stockholders receive $4.75 in cash for each outstanding Class A and Class B share of the company's common stock they own. The deal is expected to close during the second quarter of '13 (K-Swiss).