final bid of $1.80?

http://www.totaltrader.com.au/11651/bbgasx-billabong-limited-bain-capital-joins-the-bidding-process-everything-on-track-for-1-80-final-bid/


That is realistic in my opinion because:

1. We have 2 groups bidding for Billabong, which may start a bidding war.

2. Even an offer of $2.00 from TPG or Bain will give them an internal rate of return of 15%.