10:09 AM EDT, 05/05/2025 (MT Newswires) -- (Updates with the latest stock move in the headline and first paragraph along with more details from the third paragraph.)

Skechers USA's ( SKX ) shares rose nearly 25% in recent Monday trading after the company said it has agreed to be acquired by 3G Capital for $63.00 per share in cash, a 30% premium to the company's 15-day volume-weighted average stock price.

The transaction includes an option for Skechers shareholders to instead receive $57.00 per share in cash and one unlisted, non-transferable equity unit in a newly formed, privately held company following the close of the deal, which is expected to occur in Q3, Skechers said.

The deal is subject to regulatory approvals and other customary closing conditions, but no further actions by stockholders are required since shareholders who hold about 60% of voting power have approved the deal by written consent, according to the company.

Skechers said it will continue to be led by Chief Executive Robert Greenberg, President Michael Greenberg, and Chief Operating Officer David Weinberg, and remain headquartered in Manhattan Beach, California, but its stock will cease to be publicly traded.

3G Capital will fund the buyout with cash and debt, and is expected to hold about 80% of the new privately held company that will serve as Skechers' parent firm, Skechers added.

Price: 61.68, Change: +12.31, Percent Change: +24.93