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New takeover chance for Billabong

The head of Billabong's United States business is considering taking control of the surfwear company.

Paul Naude, Billabong's president in the Americas and a member of the company's board, is considering a potential leveraged buyout of the troubled retailer, Billabong said on Monday.

The company has given Mr Naude six weeks to discuss the potential takeover with financiers.

The move follows several failed takeover bids for Billabong by private equity firms.