Payless Will Take Over Stride Rite

2007-06-01T00:00:00

Payless ShoeSource and Stride Rite Corporation have announced an agreement, described as definitive, by which Payless, a large American chain of discount-oriented shoe stores, will pay about $800 million to acquire Stride Rite, along with assumption of debt. Payless’ offer of $20.50 in cash per share represents a 32 percent ...

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