TPG, who has secured the support of Colonial First State and Perennial Value Management, has offered its second takeover bid to Billabong of $1.45 per share.
The bid is based on Billabong’s 479 million shares.
The private equity company had initially offered as much as $3.30 per share in February; however that was rejected by Billabong.
According to Billabong, the offer is indicative, non-binding and conditional.
Billabong said it is considering the offer with Goldman Sachs as acting as financial advisor and Allens acting as legal advisor.
- Billabong to make a turnaround with simplified strategy plan
- Billabong gets $315M cash injection to pay off debt
- Billabong posts $859.5m loss but remains optimistic
- Billabong creditors challenge refinancing deal
- Billabong seals debt refinancing deal as Launa Inman gets bumped
comments powered by Disqus