Billabong Exec Seeks Partners In Takeover Try

Law360, New York (November 19, 2012, 2:57 PM EST) -- The head of the Americas unit of Billabong International Ltd. has stepped back while he considers mounting a takeover of the retailer, the company said Monday, a move that could be a lifeline for the beleaguered surfwear company after two private equity suitors tabled their bids earlier this fall.

Former professional surfer Paul Naude will take a six-week leave from his post and his seat on the company's board while he works to cobble together backing for a leveraged buyout, Billabong said, adding Naude was acting independently....
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