Billabong has entered into another trading halt ahead of a confirmed takeover.

“The trading halt is requested pending a further announcement in relation to possible transactions affecting the company, including in connection with the bid process announced on 14 January 2013,” the company wrote to the ASX.

The surfwear company was due to provide an update on Wednesday about its exclusive due diligence that was provided to Sycamore Consortium, comprising of Paul Naude and Sycamore Partners.

On April 24 the company had extended exclusivity talks about a takeover saying the two parties were “working constructively” to come to a final transaction agreement. Sycamore Consortium had proposed to buy Billabong’s shared a $0.60 each.