With several rumors circulating, The Lafuma Group made an announcement putting much speculation to rest. Lafuma and Oxbow, the French Surf and Snowboard company, are in takeover discussions. Shares for both groups have been suspended from trading until an announcement has been communicated in the course of next week that will specify, if an agreement is reached and details of the proposed takeover.
When shares were halted, Lafuma was trading at 66.45 while Oxbow was at 9.80.
If a deal goes through the combined company will have roughly 245 million ($315 mm) in annual sales, based on 2004 year-end results.
