April 3, 2013

Billabong Receives Low Bids, Close To Deal

Billabong shares are back in a trading halt pending an announcement from the company about the two offers it has received. One from former Billabong US boss Paul Naude and backed by Sycamore Partners, the other from Vans owner VF Corporation and Altamont Capital Partners. If the rumblings are right, then both bids are significantly below the $1.10 indicative price they started at – apparently Paul Naude’s is the preferred bid and his offer is under 80c a share… Ouch. Read more over at Business Spectator. Once there’s an announcement, we’ll post it up.

by POP Magazine