Flagging Billabong Eyes Refinancing As PE Suitors Walk Away

Law360, New York (June 4, 2013, 1:20 PM EDT) -- Sputtering surfwear retailer Billabong International Ltd. said Tuesday that a pair of private equity suitors had walked away from lengthy takeover talks, pushing its stock into a freefall and triggering the wavering company's third profit warning in six months.

Instead of a sale, Billabong said it is making moves to refinance itself and potentially sell of certain assets. Sycamore Partners and Altamont Capital Partners, the investment firms that had backed the now-dead rival bids for the clothier, are both in early-stage talks to steer the effort,...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.