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SBD Global/November 20, 2012/Finance
Billabong's U.S. Boss Hatches Buyout Plan For Striken Surfwear Retailer
Published November 20, 2012
ACTING ALONE: In Sydney, Glenda Kwek reported Billabong said that Naude was "acting independently and his decision was not solicited by its board, or by an agreement with a board member or a senior member of the management team." Financial services group Nomura retail analyst Nick Berry said, ‘‘Paul’s generally viewed quite favorably by the market, which makes this an interesting trade. If either a bid isn’t forthcoming or it gets knocked back it’s going to be very difficult for him to go back.’’ Stock broker BBY Ltd. Institutional Dealer Anson Rosewall said that while Naude’s bid was "something to pay attention to, it would be dependent on whether he can get financing." Rosewall: "At this point, we haven’t heard any details on pricing" (SYDNEY MORNING HERALD, 11/19).