Numis it took me a while to find an answer to that one but it seems that Credit Suisse didn't have access to TPG's due dilligence.....
Credit Suisse analyst Grant Saligari also believes the stock will remain under pressure in the near-term.
“It’s a very uncertain future for Billabong, you’ve had a situation where a private equity firm — with far better access to internal data and financials than external investors — decided that they couldn’t realize value, so it’s a high risk for investors,” Mr. Saligari said by telephone.
Notably, TPG hasn’t abandoned its quest for Billabong in order to pursue Rip Curl...
