Surfwear brand Billabong may soon find itself in the hands of new owners. According to the Australian press, Gordan Merchant, founder and shareholder of Billabong, stated that the price per share of the company has decreased to under $4. This means that the company is open to eventual buyers.
Speculation has been running rife, with who would secure the successful business, and private equity investment firms TPG, Bain Capital, and Blackstone are among the possible buyers. Nike, however, is rumoured to be the number one.
Nike, meanwhile, is preparing to give up brands Cole Haan and Umbro in order to collect the necessary funds to invest in eventual transactions during the next few months.