BREAKFAST DEALS: Billabong lifebuoy

Paul Naude opens the window to Billabong founder Gordon Merchant, while Sundance shares are in deep water.

Billabong International founder Gordon Merchant has been offered a window by long-time friend and now company suitor Paul Naude to remain invested in the company. The company can expect a share price retreat this morning, but not of the magnitude of Sundance Resources, which was absolutely smashed yesterday. Elsewhere, Echo Entertainment has called James Packer’s hand in Sydney, while Envestra raises in Victoria.

Billabong International

Former Billabong International Americas director Paul Naude appears to have given long-time friend Gordon Merchant a window to remain a shareholder in the business he founded as part of a $287 million takeover.

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