Collective Brands Inc. has inked a deal to be acquired by a consortium of investors that includes Wolverine World Wide Inc., Blum Capital Partners and Golden Gate Capital in a transaction valued at $2 billion, including the assumption of debt.
That translates to a cash component of $1.32 billion, or $21.75 a share. The deal is expected to close in the back half of 2012. While Collective’s board has approved the transaction, the deal is still subject to approval by shareholders. Following the closing of the deal, Collective’s current businesses will be split into separate ownership.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"