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Wolverine shares seen up after Collective buy

By
Reuters
Published
today Jul 9, 2012
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U.S. footwear manufacturer Wolverine World Wide Inc shares could soar following its acquisition of parts of Collective Brands Inc, according to a report in Barron's.


Photo: Wolverine


Charles Kantor, portfolio manager at Neuberger Berman, said Wolverine's stock could approach $50 by the first anniversary of the deal's completion, the paper said.

Wolverine shares closed at $38.37 on Friday.

Wolverine in May teamed up with private equity partners to buy Collective Brands, the owner of footwear retailer Payless shoe stores for about $2 billion. Wolverine will take over the Collective's performance and lifestyle group.

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