Pursuits
Crocs Shares Rise as Blackstone Takes $200 Million Stake
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Crocs Inc. rose the most in more than four years after saying Chief Executive Officer John McCarvel will retire and Blackstone Group LP will invest $200 million in the maker of colorful plastic clogs.
The shares climbed 21 percent to $16.14 at the close in New York, the biggest gain since August 2009. Niwot, Colorado-based Crocs has risen 12 percent this year, compared with a 29 percent advance for the Standard & Poor’s 500 Index.