Definitely possible Bain withdrew to chase the cheaper Rip Curl.
Out of interest, right before the Bain announcement, BBG share price was $1.25 (with only TPG's offer).
The fact that it closed at $1.34 today with the big news of Bain withdrawing, shows the market still expects a higher TPG offer (or at least some sort of deal) to be done.
big dumps on open, page-49
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