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