E-Land reported to be preparing Collective Brands bid
05/04/2012
The US group, which owns the Payless ShoeSource chain of footwear stores, as well as shoe brands Saucony and Sperry Top-Sider, began thinking about finding a buyer last summer, Bloomberg said after reporting a loss. The business news source said at the same time that the prices it has heard quoted of between $20 and $22 per share would be cheap, around 60% of the value it believes Collective Brands has.
It went on to say that E-Land has not yet offered a price.
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