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SBD Global/September 7, 2012/Finance
Bain Capital Is 'Mystery' Bidder To Takeover Surfwear Retailer Billabong
Published September 7, 2012
NO GUARANTEES: In Sydney, Colin Kruger reported that Billabong shares were trading 10 cents higher at $1.37 after Bain's takeover proposal was announced. There is "no guarantee" a party will make a formal offer for the company after due diligence. If they do, it is not certain if they will match their $1.45 indicative bids. Billabong said, "The board does not intend to make any further announcements unless and until a recommended offer is secured, or unless there is a development which it considers requires disclosure." It said that the process is expected to take several weeks (SYDNEY MORNING HERALD, 9/6).