Billabong deal concerns ASA

Australian Shareholders Association urges group's board to allow competing bids.

A shareholders' rights group has taken aim at Billabong International Ltd's planned recapitalisation deal, arguing competing offers for the surfwear icon should be considered.

Billabong last week announced it had reached a $US294 million ($A325 million) deal with US private equity group Altamont Capital Partners which will allow it to repay its debts (see Roger Montgomery's Billabong poised for a turnaround).


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