Buyout Firm Left Frustrated After Billabong Was Late With Documents: Report

Photo:

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.

Follow Business Insider Australia on Facebook and Twitter

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.