Contest heats up for Billabong
- {{x.value}}
{{ twilioFailed ? 'SMS Code Failed to Send…' : 'Enter verification code' }}
{{ completedStep1 ? 'Authentication & Security' : content.trialHeading.replace('{0}', user.FirstName) }}
{{ content.upgradeHeading.replace('{0}', user.FirstName) }}
The email address you entered is registered with InvestSMART
Please login to continue
We have sent you an email with the details of your registration.
Looks you are already a member. Please enter your password to proceed
{{ upgradeCTAText }}
Updating information
Please wait ...
Your membership to InvestSMART Group recently failed to renew.
Please make sure your payment details are up to date to continue your membership.
Having trouble renewing?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
You've recently updated your payment details.
It may take a few minutes to update your subscription details, during this time you will not be able to view locked content.
If you are still having trouble viewing content after 10 minutes, try logging out of your account and logging back in.
Still having trouble viewing content?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
Please click on the ACTIVATE button to activate your Intelligent Investor 15-day free trial
Please click on the ACTIVATE button to finalise your membership
Unsuccessful registration
Registration for this event is available only to Eureka Report members. View our membership page for more information.
Registration for this event is available only to Intelligent Investor members. View our membership page for more information.
- You are already registered for this event.
- This event is already full.
- Please select a quantity for at least one ticket.
- {{ i }}
Forgotten password
Please enter your email address below to request a new password
- Verify your email address by clicking on the link we sent to {{user.Email}}
- You now have free access, we look forward to helping you on your financial journey.
The battle for control over Billabong International (BBG) is escalating, as US hedge funds Oaktree Capital and Centerbridge Partners have secured a senior surf industry executive who would become head of Billabong if their offer for the company is approved, according to The Australian Financial Review.
The hedge funds have pitched a $395 million recapitalisation plan that is up against a $325 million debt and equity proposal from an Altamont consortium.
The two groups are seeking to differentiate themselves beyond just the monetary value of their bids, but also by arguing their management expertise and strategy is superior.
Billabong's board has hinted a preference for the Altamont offer, in part due to the offer's plans for a long-term turnaround and a new management team lead by former Oakley chief executive Scott Olivet.
However, Oaktree and Centerbridge have argued their offer would leave Billabong with less debt. They also claim to have strong senior management lined-up, though the have said they cannot publicly name the proposed chief executive because of the individual's ties to an existing employer, the AFR added.