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Billabong Suspends Shares Amid Talks With Takeover Bidders

Billabong International Ltd., the Australian surfwear company that’s breached debt payment terms, suspended its shares to pursue takeover talks after an exclusivity period with one potential bidder lapsed.

Billabong needs trading to be on hold to “progress discussions with interested parties”, the Gold Coast, Australia-based company said in a regulatory statement today. Exclusivity over a provisional A$287 million ($292 million) bid from Sycamore Partners Management ended yesterday and Billabong had also been in talks with Altamont Capital Partners.