Billabong founder buys extra shares - sportstextiles: Lea SportsTextiles

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Billabong founder buys extra shares

14/03/2012
Reports in the Australian media suggest that Gordon Merchant, founder of surfwear and sports apparel brand Billabong, has acquired additional shares in the company.

Billabong announced last month that takeover talks with private equity group TPG had come to an end. In this latest development, Mr Merchant bought 2.5 million new shares in the company to take his stake from 15.1% to 15.8%. This will make it more difficult for TPG to push through any future offer to buy Billabong if the founder feels the price is not right.

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