Home / Knowledge / News / Apparel/Garments / Billabong still evaluating TPG's acquisition proposal

Billabong still evaluating TPG's acquisition proposal

20
Sep '12
On Thursday, 6 September 2012, the Board of Billabong announced that it had received an indicative, non-binding and conditional proposal from a party interested in acquiring all of the shares in the company for "a cash consideration value of around $1.45 per share". This proposal was in addition to the proposal from TPG International LLC announced on Tuesday, 24 July 2012.

The Board also announced on 6 September that it considers the interests of shareholders will be best served by a formal process to thoroughly evaluate whether a change of control offer, at a price and on terms that the Board would recommend, can be secured.

Billabong announces that the party referred to in the 6 September announcement has withdrawn from the formal process. Billabong further advises that the previously announced formal process is continuing.

The Board of Billabong reiterates there is no guarantee that, following this formal process, a transaction will be agreed or that the Board will recommend any proposal.

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 Monday, 27 August 2012, Billabong announced its Transformation Strategy which provides a clear pathway to unlocking the inherent value within the company.

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.

Billabong


Must ReadView All

Foreign brands competing with local clothing companies in Vietnam

Apparel/Garments | On 17th May 2021

Foreign brands competing with local clothing companies in Vietnam

International brands are giving tough competition to the local...

Pic: Casimiro PT / Shutterstock.com

E-commerce | On 17th May 2021

London-based global fashion platform Lyst raises £60mn

Lyst, a London-based global fashion aggregator that operates an...

Pic: Shutterstock

Textiles | On 17th May 2021

Prime Content| China cotton index may remain stable in coming months: TexPro

The China cotton is expected to remain above 16,000 RMB per ton or...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Money never disappears-it just finds new opportunities

Textile Industry, Head honchos

Textile Industry
Head honchos

Verticals like fast fashion won’t completely adopt personalisation on...

Textile Industry, Head honchos

Textile Industry
Head honchos

We are staring at livelihood crisis for weavers

David Guiho,

David Guiho

Headquartered in Apt, South of France, Delta Plus designs, manufactures...

P V Kadole,

P V Kadole

Nine co-operative organisations from Ichalkaranji came together to form an ...

Dr. Vijaya Kumar,

Dr. Vijaya Kumar

Dr MM Kariappa founded the Vogue Institute of Art & Design in 1996....

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

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

Leave your Comments


May 2021

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


Advanced Search