Nike Rumored To Be Potential Billabong Buyer
Nike is "among the potential buyers for the troubled surfing apparel brand" Billabong, according to Allan Brettman of THE OREGONIAN. Nike spokesperson Mary Remuzzi said the company does "not comment on rumors or speculation." None of the stories cite a source for Nike's place among other identified suitors such as Bain Capital. All of the stories "make clear that Billabong is in a potential wipeout phase, having drastically diluted share value with a recent stock offering." Billabong traded at $17 a share on the Australian Securities Exchange five years ago but slumped below $1 on Sunday (THE OREGONIAN, 6/25).