Billabong Indefinitely Stops Trading To Mull Buyout Bids

Law360, New York (April 4, 2013, 3:48 PM EDT) -- Struggling retailer Billabong International Ltd. on Thursday indefinitely extended a trading halt for its shares as it continues to wade through a pair of private equity-backed buyout bids believed to be well below the $551 million that had been initially offered.

Billabong's announcement comes two days after it first suspended trading on the Australian Stock Exchange, a move meant to give it more time to continue negotiations with its suitors — company executive Paul Naude and Sycamore Partners on one side, brand holding company VF Corp....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.