Australian surfwear company Billabong International said it had opened its books to suitor TPG Capital, some four weeks after it first said it would do so, Reuters reported over the weekend. Private equity firm TPG Capital made a fresh takeover bid for Billabong worth A$694 million in July, just five months after a previous, higher offer was knocked back. Billabong has said the latest offer is too low.
(Reuters) – Australian surfwear company Billabong International said it had opened its books to suitor TPG Capital, some four weeks after it first said it would do so.
Private equity firm TPG Capital made a fresh takeover bid for Billabong worth A$694 million in July, just five months after a previous, higher offer was knocked back.
Billabong has said the latest offer is too low.
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