V.F. Corp Looks to Acquire Billabong (VFC)

V.F. Corp Looks to Acquire Billabong (VFC)


On Monday V.F. Corporation (VFC) shares jumped +3.28% on news that the apparel and footwear company is in talks with Billabong to buyout the surf apparel brand.

V.F. Corp and a couple of private equity firms have submitted buyout offers to the Australian surf apparel company Billabong. The offers value the Australian company at $1.16 per share, or $556 million.

V.F. Corp, the owner of The North Face, Wrangler, and Timberland, is seeking to acquire the Billabong brand as a way to add to its action sports apparel offerings. VFC submitted its offer with private equity firm Altamont Capital Partners; V.F. Corp is looking to acquire the Billabong brand while Altamont Capital is seeking Billabong’s other brands and assets.

V.F. Corp shares were down $1.08, or -0.70%, during premarket trading on Tuesday. The stock is up +16.63% over the past year.

The Bottom Line
Shares of V.F. Corp (VFC) have a 2.26% dividend yield, based on last night’s closing stock price of $153.88. The stock has technical support in the $143-$145 price area. If the shares can firm up, we see overhead resistance around the $160-$162 price levels.

V.F. Corporation (VFC) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

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