Skullcandy bought out by Incipio for $5.75/share

|About: Skullcandy (SKUL)|By:, SA News Editor

Skullcandy (SKUL +21.8%) agrees to be acquired by consumer technology provider Incipio for $177M, or $5.75/share, a 23% premium over yesterday’s closing price.

Closely held Incipio has several owned and licensed fashion and technology accessory brands, such as Incase smartphone cases and Tavik swimwear.

SKUL will have a one month go-shop period to look for higher offers, and the deal has a $6.2M termination fee that it could pay to Incipio.

SKUL had climbed 19% since founder Rick Alden reported takeover talks on June 7.

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