Home / Knowledge / News / Apparel/Garments / Zumiez offers higher price for West 49 than Billabong
Zumiez offers higher price for West 49 than Billabong
12
Jul '10
Billabong International Limited notes the announcement by West 49, Inc. dated 9 July 2010 in which it outlines it has received a proposal from Zumiez, Inc. (“Zumiez”) to acquire West 49 for a price in excess of C$1.30 per share, “subject to a satisfactory due diligence review.”

On 30 June 2010, Billabong announced it had entered into a definitive acquisition agreement (“Agreement”) with West 49, pursuant to which Billabong would acquire West 49 for C$1.30 per share.

The West 49 board has determined that the proposal from Zumiez “would reasonably be expected to lead to a superior proposal” and has notified Billabong that, subject to the terms of the Agreement, it intends to allow Zumiez to conduct due diligence to determine if its proposal can become a firm offer that is financially superior to the Billabong offer.

The West 49 special committee and board as a whole have confirmed that they “continue to support the Billabong transaction and confirm their unanimous conclusion that the transaction with Billabong is in the best interests of the Company and is fair to the Company's securityholders.” At this time, Billabong does not expect there will be any impact to the existing transaction timetable.

Billabong will continue to monitor the situation and will make further announcements as appropriate.

Billabong International Limited


Must ReadView All

Indian govt doubles MEIS incentive for garments, madeups

Textiles | On 25th Nov 2017

Indian govt doubles MEIS incentive for garments, madeups

Amid a sharp fall in exports, especially in October 2017, the Indian...

Bangladesh agrees to EU conditions for trade benefits

Apparel/Garments | On 25th Nov 2017

Bangladesh agrees to EU conditions for trade benefits

Bangladesh has decided to amend its labour law and the Bangladesh...

Infrastructure status to boost Indian logistics sector

Textiles | On 25th Nov 2017

Infrastructure status to boost Indian logistics sector

With the Indian logistics sector being granted infrastructure status, ...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

November 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
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

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
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

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
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

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
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


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