Billabong has received a merger proposal from the owner of the Quiksilver and Roxy brands. Photo / File
Billabong has received a merger proposal from the owner of the Quiksilver and Roxy brands. Photo / File
Billabong has received a merger proposal from the owner of the Quiksilver and Roxy brands that values the surfwear retailer and wholesaler at about $200 million.
The embattled retailer says it has received a confidential, indicative and non-binding proposal from Boardriders - whose majority owner Oaktree Capital already has a19 per cent stake in Billabong.
The scheme of arrangement values Billabong shares at a six-month high of $1 each, 22 cents above Thursday's closing price.
Billabong says it has opened its books for due diligence, however, there is no certainty that the indicative proposal will result in an offer for the company.
The Gold Coast-based retailer, which has been losing money for several years, recorded a $77 million loss in the 2017 financial year, worse than the previous year's $24 million loss.
