Investment firm 3G Capital is buying Skechers for $9bn (£6.78bn) and taking it private.
The deal was unanimously approved by Skechers' board of directors, the companies said Monday.
The $63 per share offer represents a 30% premium to Skechers' 15-day volume-weighted average share price, according to the release.
Following the completion of the transaction, the company will continue to be led by Chairman and CEO Robert Greenberg and his management team.
The headquarters will remain in Manhattan Beach, California, where it was founded more than thirty years ago.
The transaction is expected to be completed in the third quarter of this year.
Sourse: breakingnews.ie
