Billabong receives acquisition proposal from TPG

TPG's proposal allows Billabong's founding shareholder, Gordon Merchant, and Colette Paull to roll all or part of their respective share holdings in the company into the TPG proposal. The decision by Mr. Merchant and Ms Paull to rollover or not, will not alter the remaining terms of the proposal.

The Board of Billabong will update the market following consideration of the proposal and its terms. In the meantime, Billabong shareholders do not need to take any action in response to the approach received.

Billabong