About 72.3 percent of Volcom's shares were tendered to PPR, the French luxury and sports lifestyle company, as its extended offer to take over the American skating brand at a price of $24.50 per share in cash expired last Thursday night. Adding other shares tendered pursuant to guaranteed delivery procedures, about 91.6 percent of Volcom's issued and outstanding shares were committed to PPR's offer, which paves the way for a short-form merger – not requiring any shareholders' approval. PPR has thus put out a new offer to acquire the remaining shares of Volcom stock until June 22 at 5:30 p.m. New York time, unless extended again. PPR confirmed last week that it had received all anti-trust approvals for PPR to acquire the shares of Volcom. The offer gives Volcom a total equity value of $607.5 million and an enterprise value of $516.1 million.

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