Will Nike Buy Billabong? If you watch the business side of the surf industry at all, you know that Billabong has been struggling for a while. But this time it seems to be the beginning of the end.
Billabong announced the need to raise $225m at $1.02 per share last week. This week the stock price plunged below last week’s asking price. So it is “ripe for the picking.”
Rumor has it there’s an attempt underway to take over the company and experts speculate another big-name brand may aquire it. Will Nike buy Billabong? Maybe.
Another company being mentioned as a possible acquirer is PPR out of France. They’re the ones who bought Volcom last year. Then there are private equity firms sniffing around the deal too.
This fire sale is so hot the infamous “they” expect a buyer to come forward in “two-to-four weeks”!
Read the details here from the Sydney (Australia) Morning Herald. And if you want to know more, click on Adele Ferguson (the author’s name) at the top of the page for a series of articles she’s written about Billabong… or click here for a list of Ms. Ferguson’s articles.
What do you think? Will Nike buy Billabong? Does the Billabong brand still have any appeal? Is it even worth buying? Share your thoughts below.