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Apr. 24, 2012, 12:10 PMCollective Brands (PSS +3.9%) is weighing final offers to sell itself to South Korea's E-Land or Wolverine World Wide (WWW -0.4%), Bloomberg reports. The Payless Shoe parent has attracted at least one bid valued at ~$2B; PSS is said to plan to make a decision on the bids in the coming days. | Comment!
Jan. 25, 2012, 8:00 AMPayless parent Collective Brands (PSS) is reportedly scrambling to cut a deal for the sale of the whole company, with sources saying rival Wolverine Worldwide (WWW) is best-positioned to make a bid and would be interested in buying all of the company's brands rather than cherry-picking. If a deal happens, it will likely be around $20/share. PSS +0.8% to $16.02. | Comment!
Jan. 24, 2012, 9:35 AMMore takeover talk sparks Collective Brands (PSS +3.2%) shares, as Bloomberg speculates the company "may extract the biggest takeover premium of any apparel retailer in the world." PSS may attract interest from PE firms and rivals such as Wolverine World Wide (WWW) when bids are due next week, and could be worth up to $27/share based on the value of its separate businesses. | Comment!
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Wolverine World Wide Inc is a designer, manufacturer and marketer of casual footwear and apparel, performance outdoor and athletic footwear and apparel, children's footwear, industrial work boots and apparel, and uniform shoes and boots.
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