Trading was halted today (Thursday, February 16, 2012) on shares of Billabong “pending an announcement on the strategic capital structure review,” according to a story on Bloomberg.
The company, which is due to report earnings for the six months ended Dec. 31 tomorrow, didn’t mention the Australian Financial Review report or say whether it received an approach. . . John Mossop, a spokesman for Billabong, said he couldn’t comment beyond the statement. A Sydney-based spokeswoman for TPG declined to comment.
Will be interesting to see if Billabong can remain independent. . . it’s not looking good. Especially when you read headlines like this one from The Australian: Billabong Beached As The Raiders Close In.
[Link: Bloomberg]
