Billabong Extends Talks With Sycamore for A$287 Million Takeover
 Billabong International Ltd. agreed to extend exclusive talks with a group led by a former director and Sycamore Partners Management for a A$287 million ($295 million) takeover for a further 10 days.
The parties will continue talks until  … More
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The Gold Coast’s richest surfer, Billabong founder Gordon Merchant, looks lined up to suffer a massive wipeout. Mr. Merchant, the largest shareholder in the iconic Gold Coast-based surfwear brand, could lose about $960 million from his stake in the home-grown brand which he started in 1973.
The board of the bruised and battered surfwear giant late yesterday indicated it had entered into a 10-day period of exclusive talks with Paul Naude, the head of Billabong in the Americas, and his private equity partner, Sycamore. They are trying to stitch up a cash-and-share deal that will mean the once-great surfwear giant falling in to   … More
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Billabong’s shares plunged nearly 30 per cent, hitting record lows after emerging from a lengthy trading halt on Wednesday. Billabong revealed late on Tuesday it had entered a 10-day period of exclusive talks about a 60 cents-per-share offer from the Paul Naude/Sycamore Partners Management consortium.
The offer is nearly half the $1.10-per-share offer made by the Sycamore consortium last December and far below the $14 mark that  … More
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Billabong announced today that it has entered into a 10-day exclusive window to evaluate a purchase offer of 100% of its shares for $0.60 per share ($299 million) by Paul Naude and Sycamore Partners. Trading of Billabong’s shares also resumed following a trading halt on April 2.
The bid is a 45% reduction from the   … More
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