SKECHERS USA (SKX) Responds to Heelys' (HLYS) Announcement
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Skechers USA Inc. (NYSE: SKX) issued the following statement in response to Heelys' (Nasdaq: HLYS) public announcement rejecting Skechers' proposal to enter into discussions regarding a business combination.
Robert Greenberg, Chairman and CEO of Skechers commented, "We are disappointed in Heelys' response to our proposal. We continue to believe our offer provides a full and fair value to Heelys' stockholders and such a transaction would be in their best interests. We are particularly disappointed that, after repeated contacts over several months, Heelys will not agree even to discussions or provide us with an opportunity to conduct due diligence. We do not believe that such a refusal is in the best interests of Heelys' stockholders. We are very interested in continuing our dialogue and, as discussed in Skechers' letter of August 13, we may also be prepared to refine our proposal if additional value can be identified during the due diligence. The Company's interest remains genuine and along with our advisors, we will continue to explore all of our options."
SKECHERS USA, Inc., based in Manhattan Beach, California, designs, develops and markets a diverse range of footwear for men, women and children under the SKECHERS name.
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