Sequential Brands Group has announced that it has closed the merger of Heelys into a subsidiary of Sequential. The company had entered into an agreement, dated Dec. 7, 2012, to acquire Heelys through a merger process, subject to a number of terms and conditions that have since been fulfilled. The approval by Heelys' stockholders to complete the operation was confirmed on Jan. 24, 2013. Sequential acquired all the outstanding shares of Heelys for $2.25 per share in cash, or approximately $63 million. Along with the closing, the previously-announced global license agreement with BBC International has become effective, making BBC the exclusive licensee for Heelys' footwear.

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