Nike is among the potential buyers for the troubled surfing apparel brand Billabong, according to several news reports.
Nike spokeswoman Mary Remuzzi said today the company does "not comment on rumors or speculation."
None of the stories cite a source for Nike's place among other identified suitors such as Bain Capital. All of the stories make clear that Billabong is in a potential wipeout phase, having drastically diluted share value with a recent stock offering.
Billabong traded at $17 a share on the Australian Securities Exchange five years ago but slumped below $1 on Sunday, reports The Sydney Morning Herald. More store closures are in the offing, says Business Day. And, says the Financial Review, Billabong founder Gordon Merchant FEELS BAD "about rejecting a private equity offer four months ago and was now prepared to accept less."
FEELS BAD means to me GREEDY has he said i wouldnt sell for less then $4.00 greedy driver the world
BBG Price at posting:
79.7¢ Sentiment: None Disclosure: Not Held
