Billabong Continues $555M Buyout Talks, But Halts Trading

Law360, New York (March 21, 2013, 2:58 PM EDT) -- As Billabong International Ltd.'s share values plunged, the company on Thursday made a call to halt trading while it investigates abnormal trading levels, but confirmed that negotiations with private equity-backed bidders looking to buy it for $555.5 million are still alive.

Billabong said it was halting trading until, at the latest, March 25 or until it makes a new announcement, whichever is sooner, according to investor documents. It said it is investigating recent trading levels of its ordinary shares, which dropped from an opening of AU$.80AU...
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