Home / Knowledge / News / Apparel/Garments / VF Corp submits letter of intent to purchase Billabong
VF Corp submits letter of intent to purchase Billabong
15
Jan '13
VF Corporation and Altamont Capital Partners have submitted a non-binding, joint letter of interest setting forth preliminary indicative terms to acquire all of the issued securities in Billabong International Limited for AUD $1.10 per share in cash.

Billabong has agreed to allow VF and Altamont to conduct due diligence to evaluate Billabong’s business.

VF’s primary interest in the transaction is in the Billabong brand. This interest is consistent with VF’s stated intent to pursue acquisitions, particularly in the Action Sports category, to continue to build shareholder value. Altamont’s interest lies in acquiring Billabong’s other brands and related assets, and is predicated on the firm’s mandate to invest in situations where it can provide strategic and operational support to build business success stories.

In Australia, an offer for a public company, even if non-binding and indicative, may be made public at the time of its submission. Billabong made the proposal public today. VF and Altamont are therefore taking the precaution of announcing this proposal, notwithstanding its very preliminary nature.

The proposal does not constitute a binding offer for Billabong nor does it impose any obligation on VF or Altamont to make an offer for Billabong until formal transaction documents are executed.

About VF

VF Corporation is a global leader in branded lifestyle apparel and footwear with more than 30 brands. The company’s largest five brands are The North Face, Wrangler, Timberland, Vans, and Lee. Other brands include 7 For All Mankind, Bulwark, Eagle Creek, Eastpak, Ella Moss, JanSport, Kipling, lucy, Majestic, Napapijri, Nautica, Red Kap, Reef, Riders, Splendid and Smartwool. 

VF Corporation


Must ReadView All

Pic: Shutterstock

Textiles | On 27th Feb 2020

Australia willing to consider FTA with India on RCEP lines

Australia is willing to consider a bilateral free trade agreement...

Pic: Shutterstock

Apparel/Garments | On 27th Feb 2020

Hun Sen asks PRC garment investors not to leave Cambodia

Prime Minister Hun Sen recently again told Chinese garment sector...

Pic: B.Zhou / Shutterstock.com

Retail | On 27th Feb 2020

Retail brands restrict China operations amid COVID-19

The outbreak of COVID-19 is disrupting business dynamics in China....

Interviews View All

Top executives, Machinery Company

Top executives
Machinery Company

We will promote latest technologies at ITMA Barcelona

Deepak Jain, Baggout

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Textile industry, Head honchos

Textile industry
Head honchos

RCEP was always going to be a double-edged sword

Zennure Danisman,

Zennure Danisman

Since its inception in 1953, Orta Anadolu has been weaving a denim...

Nuria Estape,

Nuria Estape

Archroma is a global colour and specialty chemicals company headquartered...

Xavier Martinez,

Xavier Martinez

CADT Software & Drafting was founded in Spain in 1987 by Josep...

Robin Grankvist, OrganoClick AB

Robin Grankvist
OrganoClick AB

Robin Grankvist talks about PFCs, additives and various chemicals used in...

Alfonso Marra, Klopman

Alfonso Marra
Klopman

It was in 1968 that Klopman introduced the concept of poly/cotton workwear ...

Urs Stalder, Sanitized AG

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Aneeth Arora, Péro

Aneeth Arora
Péro

The Woolmark Company has partnered with handmade fashion label Péro and...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

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


February 2020

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


Advanced Search