BREAKFAST DEALS: Billabong bounce

Billabong nearly doubles its market capitalisation on news talks with suitors are advancing, while Sundance changes tack on Mbalam.

Billabong International had a good session yesterday on the back of news that its talks with refinanciers are progressing, despite reports that a lender has taken a haircut and bolted. Fellow long-term sufferer Sundance Resources is talking about splitting the Mbalam contract up to make deals smaller and easier to make. Elsewhere, Perpetual’s share price plunge has killed its lead on Equity Trustees, Commonwealth Bank has played a straight bat to speculation about its property holdings and Linc Energy was left a little bemused by the idea that it’s been speaking to BHP Billiton about Queensland coal.

Billabong International

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