SYDNEY Jan 15 Shares in Australia's Billabong
International Ltd surged more than 12 percent on
Tuesday after the struggling surfwear company received a second
Billabong said late on Monday it had received an offer from
a consortium led by San Francisco-based private equity firm
Altamont Capital Partners and clothing group VF Corp.
The A$1.10 ($1.16) per share offer matches a A$556 million
($586.55 million) bid led by Billabong's U.S. boss, Paul Naude,
and New York-based private equity firm Sycamore Partners.
Billabong, which issued its third profit warning in a year
in December, said it would evaluate both proposals.
The company's shares were at A$0.945 at 0001 GMT, up 12.4
percent. The stock has plummeted from last year's high of
A$2.51, recorded in February.