Markets: Oaktree crashing Billabong's wave

Unloved for so long, Billabong's the centre of an increasingly ferocious stoush.

Centerbridge Partners and Oaktree Capital have asked the Takeovers Panel to examine theirs and rival private equity group Altamont Capital Partners competing offers to finance and acquire Billabong after the clothing retailer’s board of directors dismissed Centerbridge and Oaktree’s proposal as “not an offer that is capable of acceptance”.

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