Billabong To Go For $287 Million In Deal With Former Exec: Report

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Billabong is close to signing a $287 million deal with former executive Paul Naude and buyout-firm Sycamore Partners, the Australian Financial Review has reported.

The bid, for 60 cents per share, values the troubled retailer at $600 million, including debt, deferred consideration and restructure costs. If approved, Billabong shareholders would receive $287 million, according to the AFR.

Shares in Billabong were placed in an indefinite trading halt last Thursday pending a deal.

Read the full story here.

Now read: Balance Sheet The Biggest Worry If Billabong Deal Does Not Come Off

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