NO MORE TALKS: Foot Locker Inc. on Thursday said it was no longer pursuing a proposal to acquire all of the outstanding common shares of Genesco Inc. The announcement followed an earlier statement Thursday morning from Genesco saying that its board rejected a higher bid from Foot Locker at $51 a share. Genesco previously rejected a $46-a-share offer from Foot Locker in April. Genesco also said Thursday that it invited Foot Locker to participate in a "process" on the same terms as other interested parties, but that Foot Locker declined. The parties are believed to be private equity firms, as reported. Goldman Sachs is Genesco's financial adviser.

To continue reading this article...

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus