Crocs to Buy 50% of Blackstone Stake as Rebound Gains Steam

Crocs Inc. will buy back and convert some of the preferred shares held by Blackstone Group LP in the latest sign that a multiyear turnaround effort has put more spring in the step of the maker of colorful, rubbery shoes. The footwear maker will pay $183.7 million for half the preferred stock Blackstone acquired as…