Share

News

BILLABONG MOVES CLOSER TO SALE

Billabong has confirmed that a consortium led by its former US boss, Paul Naude, has cut its takeover bid by 45 per cent to 287.4 million Aussie dollars, or 60 cents a share. At its peak in May 2007, Bong was valued at $3.84 billion.
Major owners Gordon Merchant and Collette Paull confirmed that they would accept the offer in the absence of any superior proposal, the company said in a statement to the Australian Stock Exchange. Mr Naude and Sycamore Partners beat out a rival bid from a consortium comprised of private equity firm Altamont Capital Partners and US clothing group VF Corp. Billabong said it would enter a 10-day exclusivity period with Mr Naude and Sycamore Partners, but cautioned the 60-cent per share deal was not guaranteed.

 

Share

Newsletter Terms & Conditions

Please enter your email so we can keep you updated with news, features and the latest offers. If you are not interested you can unsubscribe at any time. We will never sell your data and you'll only get messages from us and our partners whose products and services we think you'll enjoy.

Read our full Privacy Policy as well as Terms & Conditions.

production