JPMorgan Takes Stake In Billabong While PE Offer Hangs

Law360, New York (May 3, 2013, 8:41 PM EDT) -- JPMorgan Chase & Co. on Friday disclosed a 6.5 percent stake in Australian retailer Billabong Ltd., which is currently in the final stages of a waiting game with Sycamore Partners LLC about a potential leveraged buyout.

Five JPMorgan affiliates own more than 31 million shares of the surfwear company, according to a regulatory filing with the Australian Stock Exchange. Billabong appears close to wrapping up a buyout process that has gone on for more than 15 months, all while its stock price and financials have steadily...
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