Crocs in buyout talks with PE firms, including Blackstone
Shoemaker Crocs wants to go private and is talking with several private equity firms, including KKR and Blackstone, according to people familiar with the matter, CNBC's Kate Kelly reported on Wednesday.
The company has been talking to potential buyers for about two months. KKR, however, seems to be out of the negotiation process, but Blackstone is still considering a deal, even though the talks are waning, Kelly said.
The stock gained more than 9 percent on the news. (Click here to get the latest quote.)
Crocs didn't respond to requests for comment.
(Read more: Hedge fund takes stake in Men's Wearhouse)
The footwear maker of signature bright-colored plastic shoes with holes for ventilation went public in 2006 and the share price skyrocketed to more than $70 in 2007. The current market capitalization is around $1.2 billion. The shares closed Tuesday at $12.65.