TPG Withdraws A$694 Million Offer for Billabong as Talks End

TPG Withdraws A$694 Million Offer for Billabong as Talks End

Carla Gottgens/Bloomberg

Surfboards are displayed for sale at the Billabong International Ltd. store in Torquay, Australia. Billabong has struggled to revive profit after slumping global demand led to its first annual loss since listing in 2000, and plans to close about a fifth of the stores it had as of June 2011.