LaCrosse Footwear Skyrocketing After Buyout Announcement
LaCrosse Footwear (NASDAQ: BOOT) is trading higher on the session after a buyout announcement this morning. The company said it will acquired by ABC-MART for $20 per share, totaling $138 million.
Minoru Noguchi, President of ABC-MART said, “We are very pleased to join with LaCrosse Footwear, which further positions the company and its strong brands for long-term growth worldwide. We associate significant value with the LaCrosse® and Danner® brands, as well as with the company's outstanding channel partners and proven commitment to operational excellence. We look forward to working with LaCrosse Footwear management and building on the company's reputation and commitment to outstanding quality, performance and innovation to foster long-term growth and success.”
LaCrosse Footwear is currently trading at $19.87, a gain of $8.89 or 80.98%.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.