Markets

Billabong agrees to a $380 million takeover by Oaktree Capital

The board of beleaguered surfwear group Billabong, including founder and former Rich List member Gordon Merchant, has agreed to back a $380 million bid to buy the company from private equity firm Oaktree Capital Management. US-based Oaktree Capital Management, which owns a 19 per cent stake in Billabong and also […]
Billabong agrees to a $380 million takeover by Oaktree Capital
Markets

Quiksilver proposes a Billabong takeover, offers $1 cash per share

The board of ailing surfwear group Billabong International has opened its books to rival Quiksilver Inc after receiving a confidential, indicative and non-binding proposal which values the company at nearly $200 million. Quiksilver earlier this year changed its corporate name to Boardriders Inc, which has offered $1 cash per share […]
Quiksilver proposes a Billabong takeover, offers $1 cash per share
Markets

The losses continue but Billabong sees help ahead

Billabong posted a loss of $16.1 million for the six months to December but the surfwear retailer says it expects a lift in earnings in the second half. Sales were down 5.8% to $508.3 million. The company says restructuring costs, including redundancies, and significant items were $9.5 million higher in […]
The losses continue but Billabong sees help ahead
News

Former Billabong CEO Matthew Perrin has been found guilty of fraud

Former Billabong CEO Matthew Perrin has been convicted of fraud after faking his ex-wife’s signature to get a $13.5 million loan from the Commonwealth Bank. Perrin had been on trial in Brisbane District Court accused of mortgaging his family’s $15 million property in Surfers Paradise without permission from his former […]
Former Billabong CEO Matthew Perrin has been found guilty of fraud
Markets

Billabong shares are being hammered

Surfwear retailer Billabong posted a full year loss of $23 million, compared to a profit of $4.2 million in 2015, despite a lift in revenue. A short time ago, its shares were down 12% to $1.38. The result was on a 4.5% rise in revenue to $1.10 billion. Its big […]
Billabong shares are being hammered
Markets

Billabong is paying $45 million to fix a shareholder class action

Billabong is paying out $45 million to end a shareholder class action over earnings downgrades which saw the surf clothing company’s share price tumble in 2011. A short time ago, Billabong shares were down 0.76% to $1.31, well down on the 12-month high of $3.85. “The settlement is without any […]
Billabong is paying $45 million to fix a shareholder class action