Skullcandy To Be Acquired By Incipio - Quick Facts

(RTTNews) - Skullcandy, Inc. (SKUL), maker of Skullcandy and Astro Gaming brands, and Incipio LLC, Friday said it would be acquired by Incipio LLC for $5.75 per share or about $177 million in cash. As per deal terms, an affiliate of Incipio will begin a cash tender offer to acquire Skullcandy's outstanding shares of common stock.

The acquisition, which has been approved by both the companies' board, is expected to close in the third quarter of 2016, subject to regulatory approvals and the satisfaction of other customary closing conditions.

The merger agreement provides for a "go-shop" period until July 23, 2016, during which time Skullcandy's board of directors, together with its financial and legal advisors, may actively solicit alternative proposals from third parties to acquire Skullcandy.