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 Takeover 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”.

“A sitting Panel has not been appointed at this stage and no decision has been made whether to conduct proceedings,” said the Takeover Panel in a statement today. “The Panel makes no comment on the merits of the application.”


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