Sponsors
Billabong ▼ 0.000 | PPR ▲ +0.45 | American Apparel ▲ +0.013 | The Buckle ▼ -0.83 | Columbia ▼ -0.31 | Deckers Outdoor ▼ -1.45 | Dicks ▼ -0.52 | Foot Locker ▲ +0.05 | Genesco ▼ -0.63 | Iconix Brand Group ▲ +0.15 | Jarden Corp ▲ +0.15 | Nordstrom ▼ -0.62 | Luxottica ▼ -0.75 | Nike ▲ +0.93 | Pacific Sunwear ▲ +0.01 | Skullcandy ▼ -0.20 | Sport Chalet ▲ +0.04 | Urban Outfitters ▼ -0.64 | VF Corp ▼ -0.29 | Quiksilver ▲ +0.07 | Zumiez ▼ -0.31 | Macys ▼ -1.83 | Tillys ▲ +0.02 |
Ticker Sponsor
Readers Say
Since the inception of Executive Edition, I only need 1 stop
Since the inception of Executive Edition, I only need 1 stop

As a retailer in the surf industry for the past 21 years, I have had to use multiple sources to stay informed to the news within surf. Since the inception of the Executive Edition of Shop-Eat-Surf.com, I need only one stop. Thanks for providing such a valuable tool to all of us in the industry. Shop-Eat-Surf is a must read for all of our staff at Maui Nix.

- By George Karamitos, CEO, Maui Nix
I waited too long to sign up for Executive Edition
I waited too long to sign up for Executive Edition

I read Shop-Eat-Surf at every opportunity, and I waited too long to sign up for the Executive Edition. It’s timely, relevant and clearly “from the industry, for the industry.

- By Andy Laats, President, Nixon
New Industry Insight

Shorebreak Hotel as a venue for industry events. Cinematographer Louie Schwartzberg's "Moving Art Retreat" in June at Turtle Bay Resort. Details on Industry Insight.


Tiffany Montgomery
Print This Article

TPG bids for Billabong despite Nixon sale

Shop-eat-surf file photo.
Shop-eat-surf file photo.
By Tiffany Montgomery
February 20, 2012 7:03 AM

Private equity firm TPG Capital still wants to buy Billabong even after the Nixon sale and has made a bid for the rest of the company.

 

Billabong disclosed the news Monday in Australia.

 

TPG bid $3 cash per share.

 

Billabong's stock closed at $2.83 on Monday.

 

Here is the notice that Billabong filed with the Australian Securities Exchange.

 

PROPOSAL RECEIVED


GOLD COAST, 20 February, 2012: The Board of Directors of Billabong announces that, before market opening today, it received a non-binding, indicative proposal from TPG Capital to acquire all of the shares in the company for $3.00 cash per share by way of a Scheme of Arrangement.

 

The proposal is subject to due diligence, subject to finance and conditional on a number of other matters, but it does not preclude the Nixon transaction announced on Friday 17 February 2012.

The Board of Billabong will consider the proposal and advise shareholders of its views in due course. In the meantime, Billabong shareholders do not need to take any action in response to the proposal.

 

Billabong has appointed Goldman Sachs as financial advisors and Allens Arthur Robinson as legal advisors.

MARIA MANNING

COMPANY SECRETARY

 

 

 

 


More on: Billabong, TPG, Nixon

Articles You Might Have Missed