CANADA: West 49 gets approval to consider Billabong bid
By just-style.com | 23 July 2010
Canadian retailer West 49 has received an interim order from the Ontario Superior Court of Justice to proceed with a special meeting to consider being acquired by surfwear firm Billabong International.
Its meeting is scheduled to be held on 24 August.
The previously announced proposed transaction with Billabong must be approved by 66 2/3% of the holders of the company's common shares, a statement said.
It follows news earlier in the month that sporting goods firm Zumiez had pulled out of the race to buy West 49 after the two companies failed to agree on the terms of the due diligence process.
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CANADA: West 49 gets approval to consider Billabong bid
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