By  on May 1, 2012

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.

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