In his most recent Market Watch column Jeff Harbaugh digs into the timeline of PPR’s as yet un-closed acquisition of Volcom thanks to some new paperwork that was released as part of the settlement of a lawsuit.
From various documents filed as part of the deal, we know that the first contacts between PPR and Volcom management was on February 8th and 9th, 2010 where “…there were initial discussions about the businesses and histories of Volcom and PPR, as well as ways the companies might work together.” On March 11, PPR told Volcom they were interested in a potential strategic transaction. No purchase price was mentioned. There were ongoing meetings and conversations through April, but around April 28, Volcom told PPR that it intended to pursue its strategic plan “…rather than continue talks with regard to any potential strategic transaction…”
Harbaugh also discusses another potential buyer (“bidder A”) who felt that a purchase price of $24 was as high as they were interested in going. If you’re into M&A, click the link and read the rest.
[Link: Market Watch]
