By  on April 8, 2013

SYDNEY — Billabong International Ltd. could be close to announcing its board has accepted a 60 Australian cent per share offer, or $0.62 at current exchange, from a consortium led by its former head of the Americas division Paul Naudé, valuing the company at 285 million Australian dollars, or $296 million.


The deal, which is said to be worth more than 600 million Australian dollars, or $622 million, including debt and deferred consideration, was the higher of two bids on the table, with the Altamont/VF Corp. consortium’s offer of 50 cents ($0.52) valuing the company at 249 million Australian dollars, or $258 million, according to a report in Monday’s The Australian Financial Review.

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