Reuters – TPG Raises Concerns Over Billabong

TPG Capital Management LP's $700 million bid for Billabong International Ltd. is still on the table, although the struggling Australian surfwear retailer needs to address some concerns raised by the private equity firm. Texas-based TPG, the last remaining bidder for Billabong, was considering formally withdrawing its takeover bid after weeks of due diligence, the Australian Financial Review said earlier on Thursday, citing unidentified sources, sending the surfwear company's shares tumbling by almost a fifth, Reuters wrote.

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