Billabong still in talks with TPG, presents turnaround strategy
Australian surfwear company Billabong International is understood to be continuing discussions with TPG Capital over a A$694 million ($723 million) buyout offer, even as it unveiled a turnaround strategy regarded as a move to preserve its current status.
The private equity firm's most recent bid came in July and is substantially lower than an earlier offer made in February of A$841 million. Billabong maintains that TPG's valuation is too low, but the steep...
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