S&P 500
7,516.00
-0.11%
Dow Jones
51,657.40
-0.20%
Nasdaq 100
30,446.20
-0.11%
Russell 2000
2,980.28
+0.07%
FTSE 100
10,392.80
-0.27%
Nikkei 225
72,092.20
+0.16%

Companies and Brands

US Bootmaker Acquired by Japanese Retailer

Photo of Paul Ausick
By Paul Ausick Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

LaCrosse Footwear Inc. (NASDAQ: BOOT), a maker of work and outdoor boots, has agreed to be acquired by Japan’s ABC-MART Inc. in an all-cash deal worth $20/share, or about $138 million. The price represents an 82% premium to LaCrosse’s average closing price over the past 30 trading days. The acquisition is expected to close in the third quarter.

LaCrosse has agreed not to seek alternative offers and will pay a $5.5 million termination fee plus up to $1 million in reimbursement for expenses if the company accepts an opposing offer.

ABC-INC operates about 800 stores in Japan, South Korea, and Taiwan, and is a distributor for other brands, including Vans, Sperry Top-Sider, and Saucony. LaCrosse makes footwear under the Danner and LaCrosse brands and distributes its products in North America, Europe, and Asia. The company does not operate its own retail shops.

Shares are up 81% at $19.87 after posting a new 52-week high of $20.00. The previous range was $10.33-$14.39. Shares closed at $10.98 last night.

Paul Ausick

DISCLOSURE:
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(www.finra.org)/SIPC(www.sipc.org). Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov. Probability of Member receiving $1,000 is a probability of 0.026%; If you don’t make a selection in 30 days, you’ll no longer qualify for the promo. Customer must fund their account with a minimum of $50.00 to qualify. Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees. Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA(www.finra.org) /SIPC(www.sipc.org). There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event. Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options  Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. Further, there are a variety of risk factors to consider when investing in an IPO, including but not limited to, unproven management, significant debt, and lack of operating history. For a comprehensive discussion of these risks please refer to SoFi Securities’ IPO Risk Disclosure Statement This should not be considered a recommendation to participate in IPOs and investors should carefully read the offering prospectus to determine whether an offering is consistent with their investment objectives, risk tolerance, and financial situation. New offerings generally have high demand and there are a limited number of shares available for distribution to participants. Many customers may not be allocated shares and share allocations may be significantly smaller than the shares requested in the customer’s initial offer (Indication of Interest). For more information on the allocation process please visit IPO Allocation.
Follow 24/7 Wall St. on Google
Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

They Dream of Retiring On The Road. How Big a Portfolio Do They Need for RV Living?
Drew Wood |

They Dream of Retiring On The Road. How Big a Portfolio Do They Need for RV Living?
The Average American Leaves $2,954 on the Table Every Year by Skipping the 401(k) Match
David Beren |

The Average American Leaves $2,954 on the Table Every Year by Skipping the 401(k) Match

Continue Reading

Chris Lange |

Boot Barn Files For Secondary Offering

bootbarn.comBoot Barn Holdings, Inc. (NYSE: BOOT) filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for a…

Six Apparel and Footwear Companies That Could Overtake Nike
Aaron Webber |

Six Apparel and Footwear Companies That Could Overtake Nike

Nike (NYSE:NKE | NKE Price Prediction) remains the king of sneakers and marketing. In a world where it seems Nike…

Chris Lange |

Major Win for Boot Barn IPO

Boot Barn entered the market Thursday morning when it had its initial public offering.

Avoid All Boot Brands Except These 15
Aaron Webber |

Avoid All Boot Brands Except These 15

We all know that fast fashion is bad for our planet, and bad for the people who are exploited to…

7 Worst Shoe Brands to Avoid
Sammi Caramela |

7 Worst Shoe Brands to Avoid

Many shoppers are willing to pay a pretty penny for their footwear, especially from luxurious designer brands or for vintage…

7 Highest-Yielding Dividend Aristocrats May Be Some of the Best 2023 Total Return Picks
Lee Jackson |

7 Highest-Yielding Dividend Aristocrats May Be Some of the Best 2023 Total Return Picks

Seven of the Dividend Aristocrats with the biggest payouts also look like very timely total return ideas to start 2023.…

Paul Ausick |

24/7 Wall St. Closing Bell — July 6, 2012: Weak Job Numbers, No Love for Software

The three major US stock indexes opened sharply lower this morning following a tepid report on US job growth. The…

Can the Michael Kors Deal for Jimmy Choo Boost the Bottom Line?
John Harrington |

Can the Michael Kors Deal for Jimmy Choo Boost the Bottom Line?

Michael Kors, which styles itself as affordable luxury, is slipping on a new shoe. The company said Tuesday it agreed…

4 Analyst Favorite ‘Strong Buy’ Stocks With Expected Dividend Hikes This Week
Lee Jackson |

4 Analyst Favorite ‘Strong Buy’ Stocks With Expected Dividend Hikes This Week

Increasing dividends show that these four analyst favorite companies are doing well, making them excellent total return candidates for investors…

Top Gaining Stocks

CarMax
KMX • Vol: 7,330,419
Corning
GLW • Vol: 22,800,969
Intel
INTC • Vol: 233,719,006
Super Micro Computer
SMCI • Vol: 68,465,534
Enphase Energy
ENPH • Vol: 13,978,376

Top Losing Stocks

Accenture
ACN • Vol: 41,744,333
EPAM Systems
EPAM • Vol: 5,636,587
Cognizant
CTSH • Vol: 61,311,400
Coterra Energy
CTRA • Vol: 73,319,495
Kroger
KR • Vol: 26,704,230