the afr article on bbg and tpg here, page-80

Here is something AFR can provide you with a update on the company ..take company announcement then add in extra info relevant to the topic...Good Stuff


Billabong names chair
Takeover target Billabong International has named former Just Group chairman Ian Pollard (pictured) as director and chairman-elect, underlining that any deal with private equity suitor TPG Capital is far from guaranteed. Billabong said Ted Kunkel would remain as chairman pending the outcome of the $695 million takeover proposal from TPG to ensure a smooth transition if the company remains publicly listed. After seven years in the role, Mr Kunkel bowed to shareholder pressure earlier this year, indicating his intention to step down between the annual meeting on October 24 and February. Marcus Fanning, head of growth Australian equities at Colonial First State Global Asset Management, said he was surprised someone was prepared to take the chairman role ahead of the resolution of the TPG approach.
“Whilst contingent on TPG not proceeding, it’s probably not a good sign for TPG completing,” he said.Carrie LaFerenz