Billabong still in talks with TPG over buyout offer
Talks are ongoing between TPG Capital and Billabong over the private equity firm’s A$765 million ($820 million) takeover bid for the Australian surfwear manufacturer. TPG made a revised offer last week but it was still at the same indicative price of A$3 per share, and Billabong’s board maintains this is too low.
Billabong said in a statement to the Australian Stock Exchange that the offer "does not reflect the fundamental value of the company in the context of a change of control." It has advised Gordon Merchant,...
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