Wolverine shares seen up after Collective buy

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.