Billabong Low Value Prompts Wonder What TPG Bid Knows

Billabong Low Value Prompts Wonder What TPG Bid Knows

Ian Waldie/Bloomberg

Even after Billabong rose 54 percent in a week, TPG or a rival suitor could offer A$3.85 a share, 39 percent more than yesterday’s close, and still pay the lowest multiple relative to earnings since at least 1998, data compiled by Bloomberg show.