Billabong has received a buyout offer from private equity giant TPG, a person familiar with the matter told Deal Journal Australia. The conditional offer, contained in letter Tuesday, valued the company at 765.3 million Australian dollars (US$819.3 million).
The offer of around Aus $3 a share represented a 68 percent premium to the stock’s Wednesday close.
Billabong traded as high as Aus. $9.07 a share just a year ago.
