Boardriders Acquisition Of Billabong One Step Closer To Completion As Federal Court Approves Deal

Boardriders Inc are one step closer to the acquisition of Billabong as the Australian Federal Court today officially approved the ‘scheme’ after Billabong shareholders last week voted for Boardriders Inc to acquire all of Billabong’s issued shares. The price of $1.05 per share has been agreed, meaning the deal is worth $208 million. The next step is for Billabong to lodge a copy of the Court Orders with the Australian Securities and Investments Commission on Monday, April 9 2018, at which point the scheme will legally become effective and Billabong will cease trading on the Australian Securities Exchange. Billabong shareholders are expected to receive their funds by Tuesday April 24, 2018.