Retail Industry
Industry: Email Alert RSS FeedFOOT LOCKER RUMORS CONTINUE TO SWIRL.(speculation continues over acquisition of famous footwear)(Brief article)
Footwear News, June, 2006 by Young, Vicki M.
Byline: VICKI M. YOUNG
NEW YORK - As speculation continues to build over a potential sale of Foot Locker, the athletic retailer may have been recently eyeing an acquisition of its own: Brown Shoe's Famous Footwear division.
According to industry and financial sources, Foot Locker made an offer to buy Famous Footwear from Brown Shoe in a deal valued in the $700 million range. That offer was recently rejected by Brown Shoe, those sources said.
Foot Locker and Brown Shoe both said that their firms do not comment on rumors or speculation.
Word that a deal might be in the works first surfaced in March. Financial sources said then that a sale would give Brown Shoe the cash to pursue a possible buy of the Nine West unit from Jones...
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