Home / Featured / QUIKSILVER MAKES $150 MILLION TAKE OVER BID FOR COMPETITOR BILLABONG

QUIKSILVER MAKES $150 MILLION TAKE OVER BID FOR COMPETITOR BILLABONG

Huntington Beach based Boardriders Inc., the parent company of apparel maker Quiksilver, has made a $150 million dollar bid for competitor Australia based Billabong.

The takeover would require the approval of Billabong’s Board and regulators and would be at $0.75 USD per share.

Los Angeles based Oaktree Capital Management is the majority shareholder of Boardriders Inc. and also owns 19% of outstanding Billabong shares.

The deal could provide operational cost reductions to both companies which have struggled to survive in recent years. Quicksilver has a history of making bad acquisitions. It’s takeover of Rossignol ended when Quicksilver sold the brand for a loss in the hundreds of millions of dollars.

Billabong’s USA operations are headquartered in Irvine.

Check Also

BIG RIG CRASHES AND BURSTS INTO FLAMES CLOSING THE 57 FREEWAY

  The California Highway Patrol received the first call at 3:31 a.m. reporting that a …