Skechers bids for Heelys

Skechers has bid for Heelys

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Skechers has made a $142.8 million (£76.2m) bid for Heelys, the sneaker brand with wheels.

Skechers has offered $5.25 (£2.80) per share, representing an 8% premium to Heelys' close price on August 12.

Skechers initially made an approach for Heelys on May 28 but the offer was rejected by the Heelys board.

Skechers said it had had numerous discussions with Heelys about a potential acquisition since December 2007. it also looked at buying the Heelys business before it floated on the stock market in 2006.