Not one to speculate just purely on takeovers, but I was looking at the market caps this weekend (particularly after reading the barron's article).
Makes sense for Adidas to just outright buy SKX and supplement their Reebok brand.
At $27, the company is really only valued at less than $22 when you take out the cash.
Wouldn't it be funny if NKE was just blowing smoke up everyone's butt about not wanting to be in the rocker-arch shoe biz, and came out with a hostile bid one of these days?
Wouldn't put it past them.
But definetly you could see some consolidation in the sector. SHOO has come down as well to under a bil in mkt cap. I'd say those two (SKX, SHOO) have the best chances of being taken out given their clean balance sheets and earnings power.
The Greenberg family will be sensitive to this buyout risk and they remain very exposed holding such a huge cash balance. This exposure will put a lot of pressure on the Board to announce a big stock buy back to push up the share price and make a buyout more expensive.