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Genesco to distribute Finish Line shares

By Associated Press
June 4, 2008 | Comments (0)

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Footwear and accessories retailer Genesco Inc. on Wednesday said it will distribute The Finish Line Inc.'s shares to its shareholders as part of a settlement related to Finish Line's failed bid for Genesco.

Shareholders of record as of May 30 are entitled to about 0.34 of a share of Indianapolis-based Finish Line's stock for each Genesco share they own.

Cash will be given for any fractional share.

Nashville, Tenn.-based Genesco, which operates Journeys and other stores, will distribute about 6.5 million Finish Line shares that it was issued in March.

The shares stem from a settlement between the two companies reached after athletic shoe and apparel retailer Finish Line made a bid for Genesco, but later backed out of the deal.

The distribution is expected to occur on June 13.

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