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Crocs Shares Soaring on Blackstone Investment

Shares of Crocs, Inc. (NASDAQ:CROX) are soaring this morning on news that Blackstone Group L.P. (NYSE:BX) is investing $200 million in the company. The investment will give Blackstone a 13 percent interest in the shoemaker. Crocs will use the funds from Blackstone to increase their share buyback program. Year-to-day, Crocs has lagged behind the Dow Jones and Nasdaq. Blackstone’s investment is seen as a vote of convince for the colorful shoemaker. In addition, investors believe that the appetite for restructuring will be high as a result of Blackstone entering the picture.