Skechers Ups Offer to Hedge Funds Challenging Price of 3G Buyout

Skechers USA Inc. increased its offer to resolve a lawsuit brought by hedge funds and other investors challenging 3G Capital’s $9.4 billion purchase of the footwear maker after settlement talks failed last year, according to people familiar with the situation.

The company in April proposed to resolve the matter for $65 per share, or $2 per share above what 3G Capital paid in its buyout of Skechers in September, said the people, who asked not to be named discussing a confidential matter. The offer was more than the $64 a share proposed by the company last year, the people said.