the afr article on bbg and tpg here, page-70

i wonder if Rhone/quicksilver are still on the sidelines?

http://www.theaustralian.com.au/business/wall-street-journal/quiksilver-may-join-race-for-billabong/story-fnay3vxj-1226461096788

btw this same August article also said.....

"But UBS analysts this week said they expected the process to get "competitive", while their peers over at Citi agreed private equity was unlikely to walk away.

Despite Billabong unveiling a $275.6m full-year loss, UBS said private equity could pay $2.03 a share and still generate an internal rate of return of 15 per cent. TPG's conditional offer is at $1.45, or $695m, against Billabong's closing price yesterday of $1.35."