Bain Matches TPG Offer With $711M Billabong Buyout Bid

Law360, New York (September 6, 2012, 5:33 PM EDT) -- Billabong International Ltd. is fielding a second AU$695.6 million (US$711 million) private equity takeover offer, the company said Thursday, reportedly picking up the interest of mega-investor Bain Capital just as another wannabe buyer’s due diligence winds down.

The beleaguered Australian clothing company confirmed the offer, but did not reveal the bidder identified by several news outlets as Bain. The Boston-based private equity powerhouse did not answer requests for comment on Thursday.

Bain’s unsolicited offer comes two months after TPG International LLC lobbed its matching AU$1.45-per-share bid...
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