Huntington Beach-based owner of Quiksilver makes $150-million bid for rival Billabong

Boardriders Inc., the Huntington Beach-based company whose brands include Quiksilver and DC Shoes, has made a $150-million bid to acquire Billabong, a chief action sports apparel competitor.

The takeover attempt still requires approvals from Billabong’s board and regulatory agencies. It would involve buying Billabong at 75 cents, or 1 Australian dollar per share.

Boardriders was formerly known as Quiksilver Inc. The name change was announced in March and came about a year after the company emerged from Chapter 11 bankruptcy with the aid of Oaktree Capital Management, a Los Angeles-based global investment firm.

Oaktree has a majority interest in Boardriders and, through its controlled entities, already owns 19% of Billabong’s shares, according to Billabong. It is also one of Billabong’s two senior lenders.

Queensland, Australia-based Billabong has said “there is no certainty this process” or if the offer will go through.

Oaktree is a former shareholder in the Daily Pilot’s parent company.

[email protected]

Twitter: @BradleyZint