July 8, 2012 / 5:49 PM / 6 years ago

Wolverine shares seen up after Collective buy: Barron's

(Reuters) - U.S. footwear manufacturer Wolverine World Wide Inc (WWW.N) shares could soar following its acquisition of parts of Collective Brands Inc PSS.N, according to a report in Barron‘s.

Charles Kantor, portfolio manager at Neuberger Berman, said Wolverine’s stock could approach $50 by the first anniversary of the deal’s completion, the paper said.

    Wolverine shares closed at $38.37 on Friday.

    Wolverine in May teamed up with private equity partners to buy Collective Brands, the owner of footwear retailer Payless shoe stores for about $2 billion. Wolverine will take over the Collective’s performance and lifestyle group.

    Reporting By Scott DiSavino; Editing by Marguerita Choy

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