The price 3G Capital agreed to pay represents a 30% premium to Skechers’ current valuation on the public markets, which is in line with similar takeover deals.
Buffett noted he would still ‘hang around’ to help, but the final word on company operations would be with Abel, currently the vice chairman of non-insurance operations for Berkshire.
The loophole, which allowed items worth $800 or below to enter the U.S. duty-free since 2016, expired Friday as an executive order signed by Trump last month.