BREAKFAST DEALS: Cut-price Billabong

Billabong's offers are apparently even lower than expected, while Rio Tinto ramps up the sales process for its non-core Australian assets.

Billabong International’s bid prices have found their way into the press and the news isn’t good. In fact, it’s terrible. Rio Tinto has apparently hired another adviser team for a New South Wales copper-gold mine. Elsewhere, Nathan Tinkler’s Whitehaven stake is reportedly being ‘shopped around’, Sundance Resources has to wait out a long weekend in China before it can break ties with Hanlong Mining and Shell's Geelong refinery isn’t the only Australian asset feeling the sell side pressure.

Billabong International

It looks like it’s worse than we imagined for Billabong International and founder Gordon Merchant.

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