{"id":44607,"date":"2014-01-09T10:00:37","date_gmt":"2014-01-09T18:00:37","guid":{"rendered":"http:\/\/www.boardistan.com\/?p=44607"},"modified":"2014-01-09T10:00:37","modified_gmt":"2014-01-09T18:00:37","slug":"is-billabongs-proposed-stock-sale-unfair","status":"publish","type":"post","link":"http:\/\/www.boardistan.com\/?p=44607","title":{"rendered":"Is Billabong&#8217;s Proposed Stock Sale Unfair?"},"content":{"rendered":"<p><a href=\"http:\/\/www.boardistan.com\/wp-content\/uploads\/2013\/11\/billabong_corp-tm.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-43979\" alt=\"billabong_corp-tm.jpg\" src=\"http:\/\/www.boardistan.com\/wp-content\/uploads\/2013\/11\/billabong_corp-tm.jpg\" width=\"100\" height=\"124\" \/><\/a>On January 30, 2014 the shareholders of <a href=\"http:\/\/www.billabong.com\/\"><strong>Billabong<\/strong><\/a> will vote on a proposal to\u00a0issue 329 million shares at 41c apiece to\u00a0<a href=\"http:\/\/www.centerbridge.com\/\"><strong>Centerbridge Partners<\/strong><\/a> and <a href=\"http:\/\/www.oaktreecapital.com\/\"><strong>Oaktree Capital Management<\/strong><\/a>, according to a story in <a href=\"http:\/\/www.theaustralian.com.au\/business\/companies\/billabongs-185m-issue-to-us-equity-funds-unfair-to-existing-shareholders\/story-fn91v9q3-1226796875043#\"><em><strong>The Australian<\/strong><\/em><\/a>. But not everyone is happy about this plan.<\/p>\n<blockquote><p>AN independent expert has declared a proposal to issue up to $185 million in Billabong shares to a pair of US private equity funds is unfair to existing shareholders.<\/p><\/blockquote>\n<p>To know what&#8217;s truly &#8220;unfair&#8221; you&#8217;d have to weigh dilution against dissolution.<\/p>\n<p><strong>[Link: <a href=\"http:\/\/www.theaustralian.com.au\/business\/companies\/billabongs-185m-issue-to-us-equity-funds-unfair-to-existing-shareholders\/story-fn91v9q3-1226796875043#\">The Australian<\/a>]<\/strong><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On January 30, 2014 the shareholders of Billabong will vote on a proposal to\u00a0issue 329 million shares at 41c apiece to\u00a0Centerbridge Partners and Oaktree Capital Management, according to a story in The Australian. But not everyone is happy about this plan. AN independent expert has declared a proposal to issue up to $185 million in [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[10,12],"tags":[],"_links":{"self":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts\/44607"}],"collection":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=44607"}],"version-history":[{"count":1,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts\/44607\/revisions"}],"predecessor-version":[{"id":44608,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=\/wp\/v2\/posts\/44607\/revisions\/44608"}],"wp:attachment":[{"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44607"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.boardistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}