Plus   Neg

Billabong Rejects TPG Capital's A$765.3 Mln Bid - Quick Facts

Billabong International Ltd. (BLLAF.PK,BBG.AX) on Monday said it has rejected A$765.3 million takeover offer by U.S. private equity firm TPG Capital.

Billabong board has concluded that the indicative price of A$3.00 per share proposed by TPG does not reflect the fundamental value of the company in the context of a change of control.

The company also said its major shareholder, Gordon Merchant, had advised it that he wouldn't accept the offer and that, in his view, the price is significantly below the underlying value of the company.

Billabong said it has had a number of discussions with TPG to give it the opportunity to increase its proposed price to better reflect the value of the company. It is not known at this stage whether those discussions will result in an improved proposal from TPG.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Follow RTT