By  on April 9, 2013

SYDNEY — Billabong International Ltd confirmed today it has entered into exclusive talks with a consortium comprised of Sycamore Partners and its former head of the Americas division, Paul Naudé, to acquire the company for 285 million Australian dollars, or $296 million at current exchange.

The exclusivity will last 10 business days. Sycamore and Naude's bid is 60 Australian cents per share, or 62 cents.

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