Great point trippa; I do feel a degree of sympathy for the...

Great point trippa; I do feel a degree of sympathy for the retail holders who have had the board and GM kick them in the teeth over the past 6 months. Unfortunately we are seeing these sort of webs weaved across the entire stock market wherein management will fold to the powers of the sophisticated investor; the mums and dads holding BBG are not alone.

I feel that if any other group is going to have a chance of buying out Billabong, they will need to act quickly. Close to 30% of the shareholder base (Perennial ~13%, GM ~15%) have already agreed to the offer. TPG also have another card to play. If they don't feel they will have much luck with this bid, they will likely revise it within the next week or two, as it took just 7 days for them to increase their original bid to $3.30.

There's a fair chance that this will be signed and sealed by the end of August. $1.45 at the least, but a bit more in it if we are lucky. Will grab a few more in the mid $1.20s if the market gets impatient before then and sells the stock off a tad.