×
178
Fashion Jobs
RUDRAKSHA CERAMICS PRIVATE LIMITED
Area Sales Manager
Permanent · Pune
PUMA
Manager- Returns And Spf Operations
Permanent · Bengaluru
TECHNOVALUE SOLUTIONS PVT. LTD
Senior Sales Engineer / Area Sales Manager
Permanent · Baddi
TOUCH MOBILES
Wanted Area Sales Manager - Touch Mobiles
Permanent · Khammam
OAKBRIDGE PUBLISHING PVT LTD
Area Sales Manager
Permanent · Pune
AVANTOR
sr. Account Manager- Lab Products
Permanent · Kolkata
ANTLIA FINTECH PRIVATE LIMITED
Area Sales Manager
Permanent · Prayagraj
EXTRAMARKS EDUCATION
Area Sales Manager- B2B
Permanent · Hyderabad
ERA UNIVERSITY (ERA EDUCATIONAL TRUST)
Production Manager- Lucknow
Permanent · Lucknow
RENOVATE BIOLOGICALS PVT LTD
Area Sales Manager
Permanent · Hyderabad
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
sr. Area Sales Manager / Territory Sales Manager - Fmcg Personal Care
Permanent · Purulia
NASCENT INFO TECHNOLOGIES PVT. LTD.
Sales Manager(Egovernance Software Solutions)
Permanent · Ahmedabad
MOTILAL OSWAL FINANCIAL SERVICES
Opening For Territory Manager B2B Sales - Mumbai
Permanent · Navi Mumbai
NAGA LIMITED
Manager - Production
Permanent · Dindigul
JIO
jc Home Lead - Coimbatore & Tiruppur - Sales Manager
Permanent · Tiruppur
AVANTOR
Area Sales Manager || Patna/Ranchi
Permanent · Ranchi
BDO INDIA LLP
Cnc Manager Production Manager Minimum 14 Yrs to 18 Yrs
Permanent · Chennai
KENT RO SYSTEMS
Corporate Sales Manager
Permanent · Chennai
AS
Opening For Production Manager in Leading Sweets Mfg Company
Permanent · Thane
CENTURY PLYBOARDS (I) LIMITED
Area Sales Manager - Ahmedabad
Permanent · Ahmedabad
SRL DIAGNOSTICS
Territory Development Manager
Permanent · Prayagraj
NATURELAND ORGANIC FOODS PRIVATE LIMITED
Area Sales Manager (Maharashtra)
Permanent · Mumbai
Published
Mar 28, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Billabong shareholders approve takeover by Boardriders

Published
Mar 28, 2018

​It’s official…almost. In the absence of any unforeseen hurdles, Boardriders is to take over struggling Australian action sports company Billabong after the latter’s shareholders approved the deal.


Billabong's takeover by Boardriders has been approved



With the original A$1.00 share bid for the company having been criticised as too low by some analysts and investors, Boardriders sweetened it with a rise to A$1.05 ahead of the Billabong shareholders meeting on Wednesday. That was enough to get the 75% support needed.

There were still dissenting voices and even those who voted for the deal didn’t necessarily see it as a strong one, but with analysts saying the alternative could have been for Billabong to go under, shareholders had to face up losing their investments altogether.

The final offer represented a 34.6% premium to Billabong's closing price of the day before Boardriders’ bid was first announced back in January. The new owner already had a near-20% stake in Billabong and with the surfwear firm’s board and founder Gordon Merchant, as well as major shareholders Ryder Capital and Adam Smith Asset Management, backing the takeover, it would have taken a lot for any unhappy shareholders to have been able to block it.

Boardriders, which also owns and operates the Quiksilver, Roxy, and DC Shoes brands, said it was the best way forward.

Its CEO Dave Tanner said: "We believe that this transaction represents the best value for all stakeholders – shareholders, employees, vendors and customers. We are pleased to see that the Billabong shareholders recognised this value, and have approved the proposed acquisition. We have now cleared a significant milestone, and we are one step closer to creating the world's leading action sports company. We look forward to uniting the Billabong and Boardriders communities and building a foundation to better showcase and grow the action sports industry.”

The transaction should close on or around April 24, subject to final approvals.

Billabong had reported a A$18.4 million half-year loss in February and warned at the time that if the Boardriders deal didn’t go through, it could be forced to dilute shareholders’ stakes via an equity raising or sell assets due to its huge A$138.6 million debt load.

Copyright © 2022 FashionNetwork.com All rights reserved.