Billabong International Ltd. ADROTCPK - Current
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  • Jul. 16, 2013, 10:41 PM
    Shares of Billabong (BLLAY.PK, BLLAF.PK) soar down under, rising 38% on the ASX after the company secures $364M in financing and says it will replace its CEO. The package includes $300M in bridge financing (at 12%) and $64.65M for DaKine, Billabong's backpack brand.
    | Jul. 16, 2013, 10:41 PM | 1 Comment
  • Jun. 4, 2013, 1:00 AM
    Shares of Billabong International (BLLAY.PK, BLLAF.PK) have plunged by 50% on the ASX this morning as the last potential takeover candidates walked away from a deal. With its market cap now down to $90M, the surfwear company is scrambling to sell assets and refinance; at one point this morning the stock hit a low of 19 cents.
    | Jun. 4, 2013, 1:00 AM
  • Apr. 5, 2013, 8:50 AM
    Takeover offers for Billabong (BLLAY.PK) have come in lower than anticipated, according to the Australian Financial Review. Sycamore Partners entered a bid of A$0.60 per share while U.S. retailer V.F. Corp (VFC) came in at A$0.50 per share.
    | Apr. 5, 2013, 8:50 AM
  • Jan. 14, 2013, 8:01 AM

    In a statement confirming its participation in a bid for Billabong (BLLAY.PK), V.F. Corp. (VFC) says its primary interest in the transaction is the Billabong surfwear brand. The company is quick to note the proposal is not a binding offer.

    | Jan. 14, 2013, 8:01 AM
  • Jan. 14, 2013, 7:24 AM
    Billabong (BLLAY.PK) says it received a competing buyout offer from a group of U.S. investors that includes V.F. Corp. (VFC). The Australian surfwear company will take six weeks to evaluate the competing bids it has in front of it.
    | Jan. 14, 2013, 7:24 AM
  • Feb. 27, 2012, 2:43 AM

    Billabong (BLLAY.PK) rejects TPG Capital's A$765M ($823M) offer, saying it doesn’t reflect the "fundamental value" of Billabong with a change in control and that Gordon Merchant, Billabong's founder and largest shareholder with a 15% stake, wouldn't accept such a low price. Billabong closed +4.8% in Aussie trading.

    | Feb. 27, 2012, 2:43 AM
  • Feb. 17, 2012, 3:51 AM

    P-E firm TPG Capital offers to buy out Billabong (BLLAY.PK) for A$765M ($823M), a 68% premium to Billabong's previous close. Billabong's share price plunged after it cut forecasts on Dec. 19, but the company is rejecting TPG's bid in hopes the sale of its majority stake in its Nixon brand will help "stabilize" its balance sheet.

    | Feb. 17, 2012, 3:51 AM
  • Dec. 16, 2011, 4:04 AM

    The combination of strong competition and weak consumer spending is hitting Australian retailers hard, with several posting sharp losses today. Among the retailers under pressure: David Jones (DJNSY.PK) and Billabong International (BLLAF.PK).

    | Dec. 16, 2011, 4:04 AM