Heelys Tells Skechers to Take Its $143 Mil Offer and Roll On Outta Here
Last week, we noted that Skechers USA Inc. offered Heelys $143 million, or around $5.25 a share, for the Carrollton-based maker's complete inventory of head-cracking roller-skate-sneakers. Well, today comes word that, yet again, Heelys is gonna have to pass, thank you very much.
Says Gary Martin, Heelys' chairman, "After careful consideration, our Board rejected the offer after concluding that their proposal was not in the best interest of our stockholders. The Board believes the $5.25 offering price does not reflect the value of Heelys and that entering into discussions with Skechers based on their unsolicited proposal is premature at this time." At this moment, Heelys' stock sits at $5.30 -- its price at this morning's opening bell. --Robert Wilonsky
Get the This Week's Top Stories Newsletter
Every week we collect the latest news, music and arts stories — along with film and food reviews and the best things to do this week — so that you’ll never miss Observer's biggest stories.
- Bring It On: Dallas City Council Votes to Ban Exxxotica Porn Convention
Sat., Feb. 13, 7:00pm
Sat., Feb. 13, 9:00pm
University of North Texas Mean Green Mens Basketball vs. Florida International University Golden PanthersThu., Feb. 18, 7:00pm
Fri., Feb. 19, 7:00pm
- Ray Hunt's Fighting Against Porn. His Dad Fought Against Monogamy, Kennedy and Catholics.
- Ross Perot’s Former Campaign Manager’s Advice to Presidential Candidate Bloomberg