unlikely to accept deal centerbridge oaktree

http://www.theaustralian.com.au/business/companies/billabong-at-brand-zero-company-posts-860m-loss/story-fn91v9q3-1226705295349

BILLABONG chairman Ian Pollard has indicated the surfwear group is unlikely to accept a last-minute recapitalisation deal from US private equity funds Centerbridge and Oaktree after the company revealed an annual loss of more than three times its own market valuation.

Mr Pollard said the board was still evaluating the proposal, but signalled it was hesitant to forgo the certainty of a deal already agreed with rival US buyout funds Altamont and Blackstone.