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Billabong shares plummet as TPG ends talks Friday, 12th October 2012
After months of deliberation, private equity firm TPG this week withdrew its AUD 694 million takeover bid for Billabong International Ltd, sending stocks down to a record low. Neither TPG or Billabong would give a reason for the withdrawal of the offer, although both companies have been involved in talks since the beginning of the year.
Billabong confirms sales talks still ongoing, despite TPG’s ‘concerns’ Thursday, 4th October 2012
Billabong was this week forced to issue a statement confirming talks are still underway with TPG, over a potential sale of the group. According to the Financial Times, the Australian sportswear retailer denied the deal had been called off, although it did admit TPG had raised concerns over a number of issues during its due diligence investigations of Billabong.
Billabong rejects TPG bid Monday, 27th February 2012
Photo by Steven Lippman for Billabong campaign
Billabong has rejected a takeover bid from TPG Capital, saying it was too low to consider. The Australian surf wear company said it is still in the process of negotiating a deal, but that an offer of AUD 765 million (GBP 514.79) was too low for the brand.
Republic co-founder to step down to non-executive role Friday, 27th January 2012
Carl Brewings, the co-founder of fashion chain Republic has chosen to step down from his executive role because of personal reasons.
Iceland Foods sees gain in profit view ahead of auction Thursday, 24th November 2011
An impressive rise in full-year profit at the frozen foods specialist has increased confidence that the sale of a majority stake in Iceland Foods will meet the vendors’ expectations, according to sources close to the deal. Information sent to bidders includes a projection that Iceland Foods will have earnings before interest tax, depreciation and amortisation of £220-230 million in the year to March.
Iceland Foods receives six bids for first round Thursday, 20th October 2011
Wednesday’s first-round deadline saw six bids placed for the 77 per cent share in Iceland Foods. Wm. Morrison and Wal-Mart Stores-owned Asda submitted bids alongside four buyout firms, TPG, Bain Capital, BC Partners and Blackstone Group, people close to the situation told Dow Jones newswires on Thursday.
J Crew received no rival takeover bids - source Sunday, 16th January 2011
J Crew Group Inc received no rival takeover bids during its "go shop" period and will remain with its original $2.86 billion buyout offer from TPG and Leonard Green, a source familiar with the situation said on Sunday. Read more on Reuters