Altamont Capital Partners and V.F. Corporation (NYSE:VFC) made an offer to acquire Billabong International Limited (ASX:BBG) from the group of investors for approximately AUD 540 million in cash on January 14, 2013. Altamont Capital and V.F. Corporation offered to acquire all the shares of Billabong International for cash consideration of AUD 1.1 per share. The transaction is subject to satisfactory results of due diligence investigation and is conditional on a number of other matters equivalent to those of a competing proposal of Sycamore. The completion of due diligence process is expected to take six weeks.

Goldman, Sachs & Co. acted as financial advisor and Allens acted as legal advisor to Billabong International. Steven Glanz and Cathy Chan of Baker & McKenzie, LLP acted as legal advisor for V.F. Corporation.