Billabong Officially Halts Trading On Australian Securities Exchange After Acquisition By Boardriders
On Friday April 6 2018, the Australian Federal Court approved the acquisition of Billabong (including its stable brands Billabong, RVCA, Element, VonZipper, Xcel) by Boardriders Inc, home to Quiksilver, Roxy and DC at a price per share of $1.05. Billabong shareholders had previously voted in favour of the acquisition and required the permission of the courts for the deal to proceed. Following on from the court’s approval on Friday, Billabong officially stopped trading on the Australian Securities Exchange on Monday April 9 at close of play, Australian time. Billabong shareholders are expected to receive their funds by Tuesday April 24, 2018.
