December 10, 2010

New Quiksilver Takeover Rumour

According to a Reuters report, the owners of Gucci, Yves Saint Laurent and Puma are taking a look at acquiring Quiksilver. The French group, called PPR, has recently offloaded another asset giving them a bit of cash to work with. A note from JPMorgan Cazenove said, “… potential acquisitions are in the limelight. Burberry is ‘too big a fish’ for PPR in our view … We think Quiksilver could be of interest to PPR as a market leader in the lifestyle space focused on surfing, skateboarding and snowboarding…” Trading in Quik stock has been a little frantic and cause a 20% bump in their price to up around the $5.20 mark – remember when I said to buy at 0.89c? I hate myself for not taking my own advice. For the full Reuters report, head over here.

by Dave