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Byline: Tara Croft
Expanding into skater wear, Greensboro, N.C.-based jeans and underwear company VF Corp. said Tuesday, April 27, it had agreed to buy Vans Inc., a maker of sneakers and other apparel for the sports-boarding communities, for about $396 million.
Under the agreement, Vans shareholders would receive $20.55 a share in cash, VF Corp. said. So far, Wall Street likes the deal. VF Corp.'s stock shot up almost $1 in morning trading on Tuesday, hitting $48.33 by midafternoon.
The deal came as VF Corp. announced better-than-expected first-quarter results. Sales for the quarter rose 15% to $1.43 billion from $1.25 billion in the prior year's …