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Hyde bidding war erupts: Blue Star vs. Silvershoe. (Hyde Athletic Industries Inc., athletic shoe manufacturer)
Hyde bidding war erupts: Blue Star vs. Silvershoe PEABODY, Mass. -- A bidding war has broken out over Hyde Athletic Industries Inc., manufacturer of Saucony, Spot-bilt, Brookfield and P.F. Flyer footwear, following Cambridge-based Blue Star Holding Inc.'s unsolicited offer to acquire Hyde in a cash merger at $9.50 per share.
The Blue Star offer came less than two weeks after Hyde reached an agreement in principle on Dec. 16 with Silvershoe Partners, an investment group based in New York, to acquire Hyde for $8.50 per share (see FN, 12/19).
Under the reported terms of that agreement, Hyde chairman Leonard Fisher would retire, and president John Fisher and …
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Magazine article from: Variety
ADALIAN, JOSEF SCHNEIDER, MICHAEL
October 15, 2001
700+ words
