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Billabong International Ltd Says Consortium Cuts Takeover Bid To $300 Million-Reuters


Tuesday, 9 Apr 2013 03:52am EDT 

Reuters reported that Billabong International Ltd will enter 10 days of exclusive talks with a consortium led by its former U.S. boss after the group cut its indicative takeover proposal by 45% to $300 million. Paul Naude and private equity firm Sycamore Partners are now offering AUD0.60 per share, confirming reports the bid would be scaled back. 

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