American Vanity Fair evaluates Australian Billabong
American VF Corporation, a global leader in branded lifestyle apparel and footwear with more than 30 brands) evaluates at a very early stage and by joint letter of interest to acquire all of the issued securities in Billabong International Ltd. for AUD 1.10 per share
VS’s primary interest is in the Billabong® brand, especially in the Action Sports category. Altamont Capital Partners is a private investment firm based in San Francisco Bay Area with approximately USD 500 million under management and Altamont will acquire Billabong’s other brands and related assets, and is predicated on the firm’s mandate to invest in situations where it can provide strategic and operational support to build business success stories.
In Australia, an offer for a public company, even if non-binding and indicative, may be made public at the time of its submission and Billabong made the proposal public on January 15, 2013.