Dec 1 (Reuters) - Billabong International Ltd BBG.AX :
* INDICATIVE AND NON-BINDING PROPOSAL RECEIVED FROM BOARDRIDERS, INC.
* BOARD DECIDED TO GRANT DUE DILIGENCE ACCESS TO BOARDRIDERS TO ENABLE BOARDRIDERS TO PUT A FORMAL PROPOSAL TO BILLABONG
* PROPOSAL AT A PRICE OF $1.00 CASH PER SHARE, VIA A SCHEME OF ARRANGEMENT