Billabong gives Sycamore consortium 10 additional days of exclusivity BILLABONG has granted a US consortium led by the retailer's former Americas boss more time to decide whether to go ahead with a $287 million takeover bid. In a statement to the stock exchange today, Billabong said that it had given the group, comprising former BBG director Paul Naude and US private equity firm Sycamore Partners, and its external accountants a further 10 business days of exclusive access to its books. The company had already given the bidders one 10-day period of exclusivity, which ended yesterday. "Billabong and the Sycamore Consortium agree that both have been working constructively and with the utmost cooperation to progress ... the potential transaction," Billabong said, adding that the new exclusivity period would end on May 8. The consortium is the last of four potential buyers to run the ruler over the troubled company's accounts. US private equiteer TPG, which was the first to approach in February last year with an offer of $3.30 a share, pulled out of the race in October after two months of due diligence studies, while fellow buyout find Bain Capital and US clothing group VF Corp have also taken bids off the table after looking at Billabong's accounts. The Sycamore consortium is proposing to buy Billabong's shares at 60c each, or exchange for scrip in a Sycamore subsidiary company that will be created to hold the Billabong business.