Why Sketchers Stock Is Skyrocketing Today

The stock of Sketchers (SKX 24.41%) is surging in Monday's trading following an announcement that the company is set to be acquired. The footwear specialist's share price was up 24.5% as of 1:45 p.m. ET today amid the backdrop of a 0.3% decline for the S&P 500 index.Before the market opened this morning, Sketchers published a press release announcing that it has reached a deal to be bought out by 3G Capital in a $9 billion deal. Because the shareholders with a majority stake in the business have already app ...