Rip Curl buy a done deal on Kathmandu proxies

By Paul McBeth | Fri, 18 Oct 2019


Enough Kathmandu shareholders backed the $368 million acquisition of surf brand Rip Curl to approve the deal just on the number of proxy votes held by the board.The special meeting in Sydney was to ratify the deal, which will turn Kathmandu into a billion-dollar-revenue business and add at least 10 percent to per-share earnings. The resolution attracted 163.1 million votes - 60 percent - in favour on proxies alone. It was almost unanimously supported with 99.96 percent support at the meeting. The outdoor goods retailer is raising $145 mill...