And it continues to fall...Analysts raise concerns about...

And it continues to fall...


Analysts raise concerns about Billabong's brand and leases

by: MICHAEL BENNET
From:The Australian
October 15, 201211:30AM

BILLABONG shares remained under pressure today after analysts speculated that private equity giant TPG pulled its $695 million bid for the surf, skate and snow wear retailer because of concerns around the health of its core brand and the operating leases for its retail network.

After a six month-plus pursuit of Billabong, TPG on Friday officially withdrew its potential $1.45 a share takeover play, sending the target?s shares down almost 17 per cent. TPG?s exit after a six-week due diligence process came after Bain Capital also withdrew, raising concerns about what the private equity firms uncovered and didn?t like.