Billabong board pressured on rival deal

Altamont's deal may no longer be a lock as shareholders agitate the board to reconsider the Oaktree and Centerbridge $325 million proposal.

Billabong’s board may be giving more consideration to private equity players Oaktree and Centerbridge’s $325 million debt and equity financing deal as fund managers apply pressure to the board saying that Altamont Capital’s counter proposal is too expensive and denies them an option to profit from any recovery in the stock.

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