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Billabong backs rival Quiksilver takeover

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January 05, 2018

Billabong recommends shareholders accept a formal buyout proposal of $1 per security.

Billabong is recommending shareholders accept a formal buyout proposal by the owner of Quiksilver, Roxy and DC Shoes.

Billabong says it has entered into a scheme of arrangement under which Boardriders will acquire all its ASX-listed shares other than the 19 per cent owned by Oaktree Capital Management, which already controls Boardriders.

The offer is worth $1 per share, which compares to a 78 cent closing price on November 30 - the day before the proposal was first announced..

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