Monday, July 2, 2012
Billabong: rumours of a take-over by Nike
A statement by Gordon Merchant, founder and holder of a 15.6% stake in the Billabong group, is responsible for fanning the flames of the rumours doing the rounds. At the beginning of the week, as Billabong's shares dropped to a record low after a raising of funds, the Australian publicly declared that he felt "bad" at having categorically turned down a buy-out offer from TPG Capital last February. TPG were offering 3.3 dollars per share, a total of 850 million Australian dollars. Gordon
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