September 21, 2012

Billabong Loses Bain – And Fast

Bain has lost interest in BillabongThis article opens with “It took Bain Capital an almost embarrassingly quick time to kick the tyres on troubled surf wear group Billabong and walk away.” Eeeeep. Not the kind of write up you’re looking for when you want to squeeze a little more out of another bidder, in this case TPG which has been pursuing the company for a while and is still in the process of validating their $1.45 per share bid. What made them walk? Who knows, but I did read one quote that said “Peace has cost you your strength! Victory has defeated you!” I may have the wrong Bain though. If you’re interested in the potential happenings at Billabong, this Business Spectator article is well worth a read.

by POP Magazine