PE-backed Billabong gets $150m buyout offer
Australian surfwear brand Billabong International has received a A$198 million ($150 million) non-binding buyout offer from Boardriders, owner of the Quiksilver brand. Both companies are backed by Oaktree Capital Management.
Boardriders is willing to pay A$1.00 per share for all outstanding shares in Billabong, according to a filing. This represents a 28% premium to the November 30 closing price. The stock ended morning trading...
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