Billabong says TPG talks continue despite diligence concerns
Billabong said that buyout negotiations with TPG Capital continue after its stock plunged 20% on reports that the private equity firm was poised to walk away from the A$694 million ($709 million) deal. Trading was halted as the share price fell from A$1.30 to A$1.03 in the space of 20 minutes.
"Billabong advises that TPG has confirmed it has not withdrawn from the sale process," the Australian surfwear company said in a statement. "As part of its due diligence, TPG and its advisors have expressed...
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