Skullcandy Agrees to Acquisition Deal

August 25, 2016

Cleary Gottlieb is representing Peter J. Solomon Company, as financial advisor to Skullcandy in its sale to Mill Road Capital.

Under the terms of the merger agreement, an affiliate of Mill Road Capital will commence a cash tender offer to acquire Skullcandy's outstanding shares of common stock for $6.35 per share, net to each holder in cash. This transaction is the result of a topping bid that resulted in the termination of Skullcandy's merger agreement with Incipio. Cleary was counsel to Peter J. Solomon Company in connection with the earlier merger agreement as well.

Skullcandy creates world-class audio experiences through its Skullcandy and Astro Gaming brands. Mill Road Capital is a private equity firm specializing in growth capital, mature and buyout investments. It focuses on micro-cap investments in publicly traded companies.