The Latin American digital apparel and footwear retailer, which lost BRL 245.5 million ($60.3 mm) for the nine months ended Sep. 30 and last week announced it was exploring strategic alternatives, is a possible acquisition target for Magazin Luiza and B2W, two of the countries largest and most successful retailers who have minimal presence in the softgoods market at present. Netshoes went public on the NYSE in 2017 at $18 a share, boasting a list of underwriters that included J.P. Morgan, Goldman Sachs, Allen & Co. and Jefferies. It is now trading at about $2.20.

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