Greenwich-based Mill Road Capital Management has won a bidding war with mobile accessories company Incipio for headphones manufacturer Skullcandy.
Two Mill Road affiliates will pay $6.35 per share, or $196.6 million, for the Park City, Utah company.
The move trumps a June 24 agreement between the headphones maker and Irvine, Calif.-based Incipio whereby that company would have acquired Skullcandy for about $177 million. As part of the new agreement, Skullcandy will pay Incipio a termination fee of $6.6 million.
