Latest news with #US640
AU Financial Review
11-05-2025
- Business
- AU Financial Review
From barbarians to Taylor Swift: PE's push for the masses
Barbarians at the Gate is considered one of the best business books of all time. Published in 1989, it delves deep into the drama of Kohlberg Kravis Roberts & Co's audacious buyout of food and tobacco giant RJR Nabisco, which heralded the birth of private equity. The deal and the book immortalised KKR as a power player on Wall Street. Now, 35 years later, the original corporate raider manages $US640 billion ($996 billion) of assets and trades on the New York Stock Exchange with a market capitalisation of $US100 billion.
Perth Now
05-05-2025
- Business
- Perth Now
3G Capital to acquire shoemaker Skechers for $US9bn
Skechers is being acquired and taken private by the investment firm 3G Capital. The board of Skechers unanimously approved the $US9 billion ($A14 billion) deal, the companies said on Monday. The offer of $US63 per share represents a premium of 30 per cent to Skechers' 15-day volume-weighted average stock price, the companies said. Skechers shares jumped 25 per cent at the opening bell Monday, to $US61.72. Skechers reported a record $US9 billion in revenue in 2024 with net earnings of $US640 million. China accounts for 15 per cent of Skecher's revenue, according to the data firm FactSet. About 97 per cent of the clothes and shoes purchased in the US are imported, predominantly from Asia, according to the American Apparel & Footwear Association. Using factories overseas has kept labour costs down for US companies but neither they nor their overseas suppliers are likely to absorb price increases due to new tariffs announced by US President Donald Trump's administration. Following completion of the transaction, the company will continue to be led by Skechers chairman and CEO Robert Greenberg and his management team. Its headquarters will 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.
