Billabong International

Billabong International’s share price jumped as much as 17% today after the company revealed a potential leveraged buyout from Paul Naude. Naude, president of the Americas business and a current director, will 'stand aside' from his daily duties for six weeks as he finalises his proposal. Peter Bryant, current chief financial officer for the Americas, will step into Naude's role during this period. Naude is also barred from talking with company employees, board members and top 20 shareholders during the process; although presumably he has an inkling he’d get support for any proposal. While no transaction is guaranteed, it...

Billabong International’s share price jumped as much as 17% today after the company revealed a potential leveraged buyout from Paul Naude. Naude, president of the Americas business and a current director, will 'stand aside' from his daily duties for six weeks as he finalises his proposal.

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