The buyout firm running a ruler over troubled surf wear company Billabong was left frustrated when it couldn’t get information about the quality of future earnings, reports the Australian Financial Review.
Sycamore had a 10-day exclusivity period which was due to end today but now, reports the AFR, that is likely to be extended.
Meaning: Sycamore and Paul Naude will probably need more time to put together their formal offer.
Read the full story here.
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