Reuters: Global Markets: Shares in Billabong fall as potential bidder pulls out

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Shares in Billabong fall as potential bidder pulls out Sep 20th 2012, 01:13 SYDNEY | Wed Sep 19, 2012 9:13pm EDT SYDNEY (Reuters) - Shares in Australian surfwear company Billabong International Ltd (BBG.AX) fell more than 6 percent on Thursday after the company said one of its two suitors had dropped out of the race. On September 6, Billabong announced that a new party had offered around A$1.45 a share, equivalent to TPG Capital's TPG.UL July offer valued around A$694 million ($726.44 million). Billabong did not identify the second bidder but two sources who asked not to be named told Reuters it was Bain Capital LLC. A spokeswoman at Bain declined to comment on September 6. Billabong shares fell 6.6 percent to A$1.35.

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