DigitalOlympus.com Comments on Wall Street Journal News Article Regarding Billabong’s Unsolicited Refinancing Proposal
After Centerbridge Partners and Oaktree Capital Management made a voluntary proposal to refinance Billabong International Ltd., news and technology blog DigitalOlympus.com commented on the situation underscoring it as an interesting example of business ..
According to the Wall Street Journal news article, “the offer by Centerbridge and Oaktree, which gives shareholders a smaller overall stake in a company with a healthier financial position, is conditional on them carrying out due diligence that could take months.”
BBC News also reported on this story, and stated that Billabong blamed its current situation on higher-than-expected start-up costs for new businesses as well as a weaker trading market in Australia than analysts initially expected. The proposed refinancing plan consists of Centerbridge and Oaktree taking a 60% stake in the struggling retailer company through a debt-for-equity swap.
The Wall Street Journal news article also revealed that the refinancing plan proposed by Centerbridge Partners and Oaktree Capital Management was allegedly more appealing than that agreed with Altamont Capital Partners last week; a plan in which chief executive Launa Inman was supposed to be replaced and Billabong's DaKine business bought for $64 million.
Responding to the Wall Street Journal news report, DigitalOlympus.com lead researcher Josh Cole underlined the latest developments in this situation as a perfect example of efficient business intelligence based on comprehensive due diligence investigations.
“Business intelligence is the backbone of smart decision making, and the latest actions by Billabong exemplify it,” said Cole. “We often recommend organizations to employ firms specialized in business intelligence that can help them conduct due diligence, because without the accurate information based on investigations conducted by experts it’s almost impossible to recuperate from a critical situation such as this one.”
The Wall Street Journal article concluded by stating that, “Shares in Billabong rose 34% to close at A$0.335 on Wednesday in response to the Altamont lifeline, which included replacing the company's chief executive by the end of the month.” Something that could indicate that Billabong’s current financial situation is already improving.
Looking to provide its readers with valuable advices and useful recommendations, the team of researchers at DigitalOlympus.com always takes the time to analyze relevant news related to thought-provoking business topics like due diligence, business intelligence, the Foreign Corrupt Practices Act, corporate investigations and more.
Digitalolympus.com is a news blog dedicated to educating its readers on the latest technology advances. They are committed to gathering information on up and coming technologies that will enhance the lives of their readership. Digitalolympus.com is always at the forefront of technology news and events guiding its readers to accurately determine the best course of action for themselves and their businesses.
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