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Billabong stockholders back Boardriders deal

Shareholders of sports apparel seller Billabong International Ltd. backed the proposed acquisition of the company by Boardriders Inc., according to a March 28 statement.

The company agreed to the buyout in January.

Boardriders, which owns and operates the Quiksilver, Roxy and DC Shoes brands, is controlled by funds managed by Oaktree Capital Management LP. Oaktree already has a 19% stake in Billabong.

The deal is expected to close by April 24, subject to final approvals.