US: Wolverine World Wide leads Collective Brands bid?
The acquisition may be announced early this week, Bloomberg reported, saying that the offer values the company at US$21-22 a share and is likely to be chosen over a bid from South Korean company E-Land.
However, unnamed sources told Bloomberg that the decision isn't final and could change at the last minute as the companies work out terms and financing.
In August last year, Collective Brands revealed plans to launch a strategic review after it swung to a second quarter loss of US$35m. It hired Perella Weinberg Partners and Kurt Salmon as advisers.
The announcement came as the company said it would close some 475 under-performing Payless and Stride Rite outlets.
Footwear maker Wolverine Worldwide has lowered its full-year earnings target after posting a 19% drop in third-quarter net profit amid challenging economic trading conditions in Europe....
Payless Holdings, which owns Payless ShoeSource and Collective Licensing International, has appointed Paul Jones as CEO. ...
Wolverine Worldwide, Golden Gate Capital and Blum Capital have completed the acquisition of US footwear company Collective Brands. ...
US footwear group Collective Brands has swung to a second-quarter net profit despite closing hundreds of stores. ...
- Garment firms set sights on Vietnam amid TPP talks
- Garment manufacturers eye Myanmar outsourcing
- Changes in China cotton policies cause uncertainty
- PSF 2014: No one size fits all in apparel sourcing
- PSF 2014: Shifting focus from cost to consumer
- Wage strike by Cambodia garment workers falls flat
- H&M still committed to higher wages and Bangladesh
- Vietnam Q1 textile and garment exports surge 21.9%
- Alliance inspections more than 50% complete
- Gap to grow China sales to $1bn in three years
- Ethiopia – the emerging textile and clothing industry
- Trade and trade policy: clothing imports, consumer expenditure and trends in five emerging markets: Brazil, Colombia, India, Kazakhstan and Peru, 4th quarter 2013
- Antimicrobial fibres, fabrics and apparel: innovative weapons against infection
- Sustainable Textiles for Apparel: Fact, Fiction and Future Prospects
- Jeans in Italy