Home / Knowledge / News / Apparel/Garments / Billabong to negotiate with TPG on acquisition proposal
Billabong to negotiate with TPG on acquisition proposal
27
Jul '12
On Tuesday, 24 July 2012, the Board of Billabong International Limited (Billabong) announced that it had received an indicative, non-binding and conditional proposal from TPG International LLC (TPG) to acquire all of the shares in the company for $1.45 cash per share by way of a scheme of arrangement. TPG's indicative price of $1.45 per share is based solely on available public information and may be refined with the benefit of due diligence.

The Board of Billabong, together with its advisors, has reviewed the proposal in detail The Board has concluded that, subject to negotiation of an acceptable confidentiality agreement, TPG will be granted the opportunity to conduct non-exclusive due diligence in order to reduce the conditionality of its proposal and to improve its understanding and valuation of Billabong.

There is no guarantee that, following the due diligence process, a transaction will be agreed or that the Board will recommend an offer at the current proposed offer price In fact, the Board of Billabong does not believe that the proposal reflects the fundamental value of Billabong in the context of a change of control transaction.

Billabong has established and grown many of the leading brands in the global board sports market. Those brands, which include Billabong, RVCA, Element and DaKine among many others, are internationally recognised and globally distributed. On 27 August 2012, Billabong will announce its 2011-12 full year profit results and a three year transformation strategy focused on reinvesting in and reinvigorating its brands, removing complexity from the business and returning the company to growth.

In any control transaction, the Board of Billabong will seek to ensure that the medium to long-term prospects of the company and its unique brands are reflected in the value realised by Billabong's shareholders.

It is expected that the due diligence process will take several weeks.

Goldman Sachs is acting as financial advisor and Aliens is acting as legal advisor to Billabong.

Billabong


Must ReadView All

Apparel/Garments | On 23rd Sep 2017

AAFA urges negotiators to preserve TPLs in NAFTA

The American Apparel & Footwear Association (AAFA), an alliance of...

Textiles | On 23rd Sep 2017

SIMA urges Centre to re-look duty drawback rates

he Southern India Mills’ Association (SIMA) has appealed to the...

Textiles | On 23rd Sep 2017

PKR 690.65-mn budget for Pakistan Cotton Committee

The Pakistan Central Cotton Committee (PCCC) recently approved a PKR...

Interviews View All

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search