BILLABONG SHARES SLUMP AMID DAMNING SPECULATION
9 October 2012,
BILLABONG (ASX: BBG) shares plummeted in value today amid reports potential suitor TPG Capital is considering withdrawing its offer to buy the embattled Gold Coast surf wear company.
"TPG has confirmed it has not withdrawn from the sale process. As part of its due diligence investigations, TPG and its advisers have expressed concerns in relation to some issues, however discussions in relation to those matters are continuing."
The company, which was also forced to respond to a "speeding ticket" from the ASX, maintained it was under no obligation to accept any takeover offer.