Billabong suspends trading amid reports of TPG bid
Australian surf-wear manufacturer Billabong International has suspended trading amid reports that TPG Capital has tabled a buyout offer for the company. The move comes as Billabong looks for ways to manage a A$600 million debt pile, with net profit expected to fall by 50% in 2012 to around A$64 million.
Billabong, which was due to release its interim results on Friday, said in a stock exchange filing that trading would be halted pending a company announcement. According to The Australian Financial Review,...
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